German company "Kostal" is the new investment in Macedonia set to open 1,000 jobs. It will initially be launched as a Brownfield operation and later have its own facilities, located in the Ohrid-Struga region.

The company announced the news at its website, shared by Prime Minister Nikola Gruevski through his Facebook profile.

"The promise I gave on 25 March 2014 regarding an investment in the Ohrid-Struga region is now official. German company 'Kostal' has announced its investment and the opening of 1,000 jobs for Ohrid and Struga citizens", says PM Gruevski.

He adds that Kostal is the third investment in a week, following Gentherm and Cap-Con, all opening 2,500 new jobs.

"We are pleased to announce the plans to increase our production capacities in Europe to meet the continued growth through an investment in Macedonia", "Kostal" said in a press release.

Company's executive vice president Christopher Sanders says Kostal's plans are aligned with the company's growth strategy and its commitment to serve global customers by providing them products with the best quality, technology and cost.

"The contract will be finalized by the end of January 2015. The plan consists of launching a Brownfield operation in early 2015, followed by a Greenfield operation in 2017-2018. The targeted location is the region Ohrid-Struga. The initial phase of the investment is focused on the manufacturing of mechatronic products and is anticipated to create up to 1,000 jobs. The site is capable to allow significant future expansion potential, allowing the company to avail of local skills and capabilities", says "Kostal".

"Kostal" is an independent German-based family company and the leading global supplier of technologically advanced electronic, electromechanical and mechatronic products for major industrial organizations. The group has 38 locations worldwide in 17 countries on four continents, with a workforce of over 15,000 people.