The Slovenian industrial giant Cimos, known in the former Federal Republic of Yugoslavia for the production of Citroën cars, plans to close its plant in Slovenia and move production to Serbia and Bosnia and Herzegovina. According to Dnevnik, a layoff program has been prepared that does not suit the representatives of the Union of Employees of the Metallurgical and Electrical Industry of Slovenia (SKEI) for the Kras and Primorska and Primorska regions.
According to Saša Ristić, the program was recognized as unprofessional because it did not specify the specific positions that would be retained. He noted that this is the worst layoff program he has ever seen.
Cimos has long been planning to move production to Gradac (Bosnia and Herzegovina) and Kikinda (Serbia). However, according to Ristić, this move is controversial because management should have first informed the works council, which did not happen, although the relocation of production is the official reason for the layoffs.
Cimos has had a plant in Hradac for many years. Ristić explained that the upcoming layoffs are also related to the planned relocation of production. He told Dnevnik that the Cimos management requires the trade union and the works council to give their urgent consent to the dismissals.
Of the 175 employees to be laid off, about 120 work in Senožec, while the rest are employed at Cimos’ production sites in Maribor and Vuzenice.
About Cimos
Cimos is a Slovenian company specializing in the production of components for the automotive industry. In 2020, the company was acquired by the German investment fund Mutares.
Financial results
As of 2022, Cimos’s revenue amounted to about 200 million euros. The company continues to work on improving efficiency and expanding production capacity.
Products and customers
Cimos produces a variety of components for the automotive industry, including braking systems, suspensions, and powertrains. The company’s customers include automakers such as Renault, PSA Group and Volkswagen.
Exports.
Cimos products are exported to various European countries, including Germany, France, and Italy.
Source: https://t.me/relocationrs/606
In 2024, the commercial real estate market in Belgrade showed steady growth, driven by a robust economy and rising consumer demand. Experts predict that the trend will continue in 2025, especially in the central areas and New Belgrade.
Average rental rates (€/month):
The largest international chains choose the center and New Belgrade, while local businesses prefer Zemun and the surrounding area.
Belgrade continues to strengthen its position as a promising site for commercial real estate investment.
Source: https://t.me/relocationrs/580
The eldest son of former US President Donald Trump Jr. is visiting Belgrade, where he is expected to meet with Serbian President Aleksandar Vucic. This is his second visit in the last six months – the previous one took place in September 2024, during Donald Trump’s election campaign.
The official reasons for the trip have not yet been disclosed, but possible areas of talks include:
U.S.-Serbian relations – issues of bilateral cooperation and political dialogue.
Economy and investment – Trump Jr. holds the position of executive vice president of the Trump Organization, which may indicate potential business initiatives in Serbia.
Geopolitics – Belgrade remains a key player in the region, and the visit may be related to the US global strategic interests.
Trump Jr. is known for his continued support of his father’s policies, and his visit may be linked to future strategic decisions important to both Washington and Belgrade. Official statements are expected after the talks.
Source: https://t.me/relocationrs/577
The Chinese company Jiangling Group Electric Vehicle (JMEV) plans to build an electric vehicle manufacturing plant in Sremska Mitrovica in northwestern Serbia with the long-term goal of exporting cars to the European Union without paying duties. This was reported to Radio Free Europe by Brancica Zjalic, JMEV project manager in Serbia.
“The size of the investment will be determined in the next two months and depends on whether we will produce three thousand or five thousand cars a year,” Zjalic said. She added that Serbia was chosen because of its good economic relations with both China and the EU. “Serbia is a kind of bridge between China and Europe in terms of sales of electric vehicles,” she said.
In October 2024, the European Union imposed high duties (up to 35%) on electric vehicles made in China for five years to protect European automakers from allegedly unfair competition from Chinese manufacturers that benefit from government subsidies.
Serbia, for its part, signed a free trade agreement with China that entered into force in 2024, which has drawn criticism from the EU given Serbia’s status as a candidate for accession to the Union.
Source: https://t.me/relocationrs/542
The Chinese company China Machinery Engineering Corporation (CMEC) is threatening Serbia with a lawsuit in international arbitration worth USD 795 million due to years of delays in the construction of the Kostolac B3 thermal power plant. The Chinese believe that the four-year delay was not their fault, and that EPS is responsible. In case of a loss, Serbia intends to file a counterclaim for damage caused by the need to import electricity. If the case goes to arbitration, the project could cost Serbia $1.5 billion, including the $715 million already paid.
The Chinese side claims that the increase in costs is due to inflation, the coronavirus and the war in Ukraine, as well as changes in the scope of work by EPS. The main disagreement concerns the revision of prices that were stipulated in the 2013 contract, when the project was supposed to be completed in 2019.
Despite the completion of construction and commissioning of the facility in December 2024, negotiations on compensation have not been completed, as the Chinese company is demanding a revision of the contract price. The Chinese argue that inflation and changes in the design documents have led to additional costs, and also take into account problems with obtaining permits and the effects of the pandemic and war in Ukraine.
Serbia tried to negotiate, but the Chinese did not agree to a compromise and continued to seek compensation through arbitration. In the event of arbitration, China is expected to file a claim for an amount exceeding the original project amount.
Source: https://t.me/relocationrs/516
According to the European Commission, from July 1, 2024 to February 2, 2025, the European Union countries imported about 1.24 million tons of sunflower oil. This is less than in the same period last year (1.51 million tons), but higher than in the 2022/23 season (1.13 million tons). The pace of imports has slowed in recent weeks: while in December up to 59,000 tons were imported weekly, in early February – less than 25,000 tons per week.
Ukraine remains the largest supplier of sunflower oil to the EU, providing 94% of imports (1.17 million tons). However, this is lower than the previous year’s figure (1.40 million tons) due to reduced raw material supplies, slower processing and limited export potential.
Serbia and Bosnia and Herzegovina are the second and third largest suppliers of sunflower oil to the EU with market shares of 3% and almost 1% respectively. However, their export volumes also declined compared to the previous year.
The decline in supplies from Ukraine, Serbia and Bosnia and Herzegovina is prompting the EU to seek new sunflower oil suppliers to compensate for the deficit and stabilize the market.
Source – TG channel Serbian Economist
