Market and product

CGS Tyres in US Production Plant Talks

02:52 PM @ Wednesday - 21 July, 2010
Czech tyremaker CGS Tyres has announced that it is currently in discussions with regard to opening tyre production plant in Charles City, located in Iowa, USA. The talks are sufficiently advanced for the firm to announce that, on 31 August, CGS Tyres is expected to sign investment and incentive agreements at the Farm Progress Show in Boone. According to the company, CGS Tyres plans to expand the Charles City plant in three stages with production to start in January 2012. “Iowa is central to our North American strategy,” said Jaroslav Čechura, the CEO of Mitas, a CGS Tyres group member: “We are expanding our production capacity, and we will provide the U.S. farmers with U.S.-made Mitas and Continental tyres.”

Details of this investment such as the total sum invested, the number of jobs created locally or the average starting wage are reportedly subject to agreements with the Iowa Department of Economic Development, Charles City Area Development Corporation, City of Charles City and Floyd County.

CGS Tyres currently employs over 2 800 people and operates four production facilities in Europe.

(Source: Typress.com)
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