The investment is worth EUR 5.6m, while the total investments made by Jub in Serbia, where it is present since 2004, have been estimated at EUR 27m.

The group, which is best known for its wall paint brand Jupol, features twelve companies that operate on more than a dozen markets in Europe and overseas. It expanded its product range to insulation materials in 2012.

Jub's production will now be expanded with the facility in Šimanovci near the city of Belgrade, where Jub is already producing wall paints.

At the end of last year, the group employed 569 people, of which 343 worked in Slovenia and around 150 in Serbia. It exports 75% of products produced under its own brand.