The construction of the EUR 15m plant took one year and was finished in August. The plant will house 45 production lines on 7,000 square metres of production space, and a 1,000 square metre sales and marketing centre.

The entire production of Kolektor Magnet Technology, which currently employs 215 people, who generate some EUR 60m in revenues, is to be moved to the new plant by spring 2014.

Matija Pelhan, the manager of Kolektor Magnet Technology, expects the move will bring savings both in production processes and in operating costs.

Kolektor Magnet Technology was established in 2009 as one of Kolektor's three subsidiaries in Germany after the takeover of ESC Essen, and is a global leader in the production of plastomagnets, which are used in electric motors.

Its main clients are car makers and their parts are used around Europe and exported to the US, Japan and China.

The prime minister, who was present at the opening of the new production plant, told public broadcaster Radio Slovenija that Kolektor had shown that the crisis could be an opportunity for growth and success.