Car locks maker Witte Nejdek will invest €22 million into expanding its Czech factory, joining a fleet of car parts makers raising presence in central Europe ahead of European Union enlargement there next year, Reuters said.
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According to the news agency, the Czech government agency Czechinvest said on Monday that Witte, a member of Germany’s Witte Velbert group, would hire 310 people over the next three years.
The company is based in the northwestern town of Nejdek and supplies vehicle makers such as Audi, Volvo and truck maker Scania, Reuters said.
“The overwhelming majority of our output will be exported to EU markets, with more than 50% of added value created in the Czech Republic,” Witte Nejdek Managing Director Vaclav Jenista said in a joint statement with Czechinvest cited by Reuters.
Witte Nejdek’s executive Lydie Zivalova told Reuters the company had applied for a corporate tax holiday under the government’s investment incentive programme.
Reuters noted that the announcement followed Friday’s news that another German parts supplier, Brose Group, would invest more than €40 million into another Czech plant for locks and seat adjusters.
