Mitas Considering $50 million Investment in Czech Republic
Mitas a.s. has reportedly signed a “Declaration of Understanding” to build a new tyre production plant in the Czech Zlín Region, an essential step for the realization of the project. Contracts are said to be being drawn up currently. Mitas, a division of Czech Rubber Group CGS Tyres, is reportedly planning a 1 billion Czech koruny (£34 million, 40.65 million euros, US$53.73 million) investment in the Holešov Industrial Zone in the Czech Republic.
According to a Holešov Industrial Zone statement, the company is planning to build the plant at the end of next year and it will be fully operating in 2014. The site is expected to employ 500-550 people. The new factory will reportedly require 6.5 hectares of land, with the option for another 6 hectares. Mitas plans to produce mainly tyres agricultural tyres in Holešov. It has found several suitable places for realization of its intention, and finally it has been decided for Holešov.