Czech government and municipal officials reportedly denied on Friday a report that car transmissions maker Getrag Ford would build a €250 million factory in the Czech Republic.

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Reuters said reports of the investment were cited in analyst reports as one of the factors behind a recent firming in the Czech currency.


But Josef Benes, spokesman for the eastern town of Valasske Mezirici, told the news agency the town hall had overemphasised monitoring by western car parts makers of Czech industrial zones for potential investments in the region with a booming car industry.


“We have issued a denial at the request of (government agency) CzechInvest,” Benes reportedly said.


Reuters noted that some currency traders had said that the planned investment may have been behind the crown currency’s advance to a 2004 high of 31.825 to the euro on Thursday.

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The town had earlier said representatives of the company had visited the site and showed serious interest. CzechInvest’s spokeswoman Katerina Grimova told Reuters the agency was in contact with a number of parts makers searching for information about possible locations in the Czech Republic but none had so far picked the Valasske Mezirici site.


A Getrag Ford spokeswoman told the news agency late on Thursday she had no information of any planned expansion to the Czech Republic.


Valasske Mezirici is near the eastern Czech border with Slovakia, making it an attractive location among several new car factories in the Czech Republic and Slovakia, Reuters added, noting that Toyota and PSA Peugeot Citroen are building a joint plant in the Czech Republic while South Korea’s Hyundai [for Kia-brand cars] and Peugeot are each building a new factory in Slovakia.