MTU to open Serbia plant
NEWS FLASH
Leading German aircraft engine manufacturer MTU Aero Engines has announced plans to build a factory in the town of Stara Pazova near Belgrade. MTU is one of the five biggest providers of maintenance services for commercial aircraft engines and industrial gas turbines. One third of the world's commercial aircraft fleet relies on components delivered by the company. Among other activities, it designs, develops, produces and provides support for engines for commercial and military aircraft. MTU has a leading role in providing maintenance services for the V2500 engine, which powers Airbus A320 jets and is used by Air Serbia, among others. MTU's CEO, Michael Schreyogg, said Serbia would become their hub for servicing aircraft engines, with the company to purchase land for the construction of the plant this summer. Initially, the factory will employ some 450 people. The company was founded in 1934 in Munich and has 10.000 employees. Its annual revenue stands at 4.6 billion euros.
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