The director of Kragujevac-based company Wacker Neuson, Michael Schmuecker, unveiled the “Ready for the Future” initiative, outlining plans for constructing additional production facilities and a factory for finished products, accompanied by the employment of 200 workers.
Wacker Neuson, specializing in welded steel structures and components for construction machinery, celebrated its 17th year in operation under German ownership, as reported by Beta.
From humble beginnings in a small workshop spanning just a few hundred square meters, Wacker has expanded its operations across two locations in Kragujevac, currently employing over 500 individuals.
Last year saw the inauguration of a new factory, a venture backed by an investment exceeding 20 million euros. This strategic move bolstered the company’s foothold in Serbia, ensuring sustained growth prospects in Kragujevac.
“In our forthcoming developmental phases, we envisage augmenting our existing production infrastructure, encompassing the establishment of a state-of-the-art paint facility and the construction of an entirely new plant for assembling finished products – specifically, construction machinery,” stated Wacker Neuson in a press release. However, due to a global economic downturn dampening demand for Kragujevac products, these expansion plans are temporarily paused.
Schmuecker emphasized the company’s ongoing commitment to innovation, particularly in automation and robotics, highlighting the imminent installation of an additional welding robot this year.
“We are actively seeking new talent, with a focus on experts in production, engineering, and programming,” added Schmuecker, stressing the importance of investing in workplace safety measures to mitigate accidents.
Additionally, subsidies play a pivotal role in Wacker Neuson’s growth trajectory. In April 2021, the company secured approximately 1.6 million euros in incentives to fuel an expansion initiative aimed at enhancing existing capacities and acquiring new production assets in Kragujevac.
As part of the agreement with the Ministry of Economy, Wacker Neuson pledged to hire 203 new permanent employees by the end of 2025 and invest a minimum of 25.1 million euros in tangible and intangible assets.
The subsidy, disbursed in five installments, with the final tranche scheduled for 2026, is contingent upon each payment being accompanied by the recruitment of additional staff.
To date, Wacker Neuson has received two installments – 433,041 euros in 2022 and 630,733 euros in mid-2023 – signaling tangible progress towards its expansion goals.
