Mežica, 06 September (STA) - Slovenian battery maker TAB plans to move a part of its production to Macedonia, where it acquired an 85% stake in Vesna SAP as part of a EUR 40m-worth four-year investment cycle, the company said on Thursday.
The Mežica-based company now has an opportunity to further develop and grow, said TAB CEO and co-owner Bogomir Auprih about the announcement.
He explained that part of the production will be moved to Macedonia so that the company will be able to produce high value added products in Slovenia.
There will be no major changes in employment policies, added the boss of the company which generates EUR 63,000 in added value per employee.
According to him, TAB decided to buy the Macedonian battery maker on "macro and micro grounds", listing increasingly unfriendly business environment in Slovenia, where politics is "unproductive, incapable and irresponsible", as one of them.
TAB has managed to double its production by investing in technology and production capacities, Auprih noted. One of the most successful companies in the Koroško region (N) made EUR 7.7m in net profit in 2011, up from EUR 7m the year before.
Revenues also increased, from EUR 117m in 2010 to EUR 136m last year. TAB sold around 1.9 million car batteries and 920,000 industrial batteries, holding three percent and nine percent shares on the European market, respectively.