The investment of the German company STS Textiles was announced in October 2016 in Veles. The agreement was signed by the Minister for Foreign Investments, Jerry Naumoff, the manager of the company Markus Tutsch and Zhaklina Stojakovska, manager of the company Luteks.
The basic activity of the company is production of technical and industrial textiles.
According to the announcements, the 4 million Euro investment should reach 7 million euros in the next five years (until 2021).
Regarding jobs, the company announced that they would initially employ 50 persons, after which the number of newly employed persons would rise to 1,000.
Until the end of 2016 this company has only 14 employees.
The factory would be located on the premises of the previous factory Noncha Kamisheva, also known as the former Svilara from Veles.
The company Luteks has been established in Macedonia in March 2016 with an initial investment of 5 thousand euros. The founder is Markus Alexander Mario Tutsch from Germany, whereas Zhaklina Stojkovska is the manager.
The very same investment was also announced in February 2016, but in Demir Hisar, in the facilities of former Zastava. The government gave the company 2.2 million euros as regional assistance for the investment on two basis:
- Return of the profit tax for a period of 10 years,
- Grant for new jobs – from 150 citizens to 1,000 jobs.
In September 2016, this decision of the government is declared void, because “due to legal obstacles to buy or lease the investment property, the investor has decided not to sign the agreement”.
Then the decision was made to move the investment to Veles, on the premises of the former factory Noncha Kamisheva.