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Tab to invest up to EUR 25m in North Macedonian subsidiary

Mežica, 29 May (STA) - Battery maker Tab Mežica has confirmed plans for up to EUR 25 million-worth of investments into its North Macedonian subsidiary Tab MAK, located in the town of Probištip. The idea is to expand the production of industrial and starter batteries there, Tab told the STA.

The company said that the size of the workforce in Probištip, where Tab has been generating EUR 60 million in annual revenue and operating with a profit, would increase from 414 to about 500 as a result.

The news was reportedly already mentioned on Tuesday in Ljubljana by North Macedonian Prime Minister Zoran Zaev, who paid an official visit.

Tab Mežica is one of the most successful companies in Slovenia's northern region of Koroška, having generated EUR 280.5 million in sales revenue and a EUR 26.5 million net profit in 2018.

The revenue and profit figures for the group, which has production facilities in Slovenia and North Macedonia, were EUR 336.4 million and EUR 31.6 million, respectively.

The privately-owned company was being eyed last year by South African battery maker Metair Investments, which however pulled out in August. Speculation about a potential sale of Tab was revived last month, but the company has not wished to comment.

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