UBM Group breaks ground for an animal feed factory. Investment €24 million worth and would provide 100 new jobs.

Photo:Tanjug/Strahinja Acimovic

UBM from Hungary starts with its €24 million investment in the municipality of Šid, northern Serbia, within the industrial park Adaševci.

The ground-breaking ceremony announced the start of the construction works of the animal feed production plant, which will provide around 100 new jobs. More than a million tons of fodder will be produced in the UBM plant each year.

President of the Republic of Serbia Aleksandar Vučić, and Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto attended today the ceremony of the laying of the foundation stone for the construction of a UBM Group's animal feed factory.

"Our relationship is an example of successful cooperation, and now we are adding another bright spot to these successes. With the support of the Hungarian and Serbian governments, we are opening what is an investment of 3.1 billion Hungarian forints (24 million euros), which is how much Hungary has invested in this plant. It will be a profitable business for both economies," said Szijjarto.

UBM Group is a leading feed producer and market-leading trading group in cereal, oilseed, and protein crops in Hungary. It is engaged in the production and distribution of animal feed, as well as trade in raw materials for its production. In addition to Hungary, the company operates in 10 other countries and employs 430 people.

Photo:Tanjug/Strahinja Acimovic