The 3000-square-metre plant, situated in the "Nikola Tesla" business zone in the northern town of Krizevci, employs some 40 workers, and is likely to provide jobs for an additional 20 workers after its planned enlargement.
Addressing the inaugural ceremony, PM Kosor underlined the importance of projects such as this one in difficult times for the economy.
"Apart from being an economic success and providing new employment, this (plant) also confirms the great friendship between Croatia and Italy," she said, thanking the Italian people and government for their support to Croatia on its EU membership road.
This investment is also a result of long-standing cooperation between Krizevci and the Italian region of Reana del Rojale.
Koprivnica-Krizevci County Prefect Darko Koren said this was one of the few greenfield investments in Croatia, adding that credit for its implementation should be given to "the economic diplomacy of the local community".
The Italian MEP group is a leading global manufacturer of tool machines.
In attendance at today's ceremony were the owners and executives of the two companies, Italian Ambassador to Croatia Alessandro Pignatti, Croatian government officials and local office-holders.