CGS Tyres Confirms US Plant for Ag Radials
CGS Tyres has today confirmed it will build the production plant for agricultural tyres reported on tyrepress.com over the past two months. A $43.81 million investment will allow the Czech company to build its new plant in Charles City, Iowa. Company representatives and the Iowa Department of Economic Development signed an investment agreement at the Farm Progress Show in Boone, Iowa, marking the end to negotiations that begun in 2009. The company said the plant would create at least 159 new jobs for local residents. Production is scheduled to commence by 1 January, 2012.
“We bring 78 years of expertise in tyre-making,” said CEO Jaroslav Cechura. “U.S. farmers will benefit from our advanced tyres and increased competition.” The Charles City factory will produce the Mitas and Continental brands of farm radial tyres for the North American market.
The plant will be developed in three stages, depending on demand, with the third stage providing employment for 262 people and providing a total production capacity of 12,200 metric tons of farm radial tyres per year.
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