Schaeffler Group has opened its EUR92.5m (US$100m) plant in Svitavy, Czech Republic, which will create 960 new jobs in a three-year period.
Manufacturing is due to begin in the third quarter of next year, with the main product being the thermal management module for the automotive industry.
A large proportion of the investment will be used for the procurement of new machines, which will be set up in the existing Lanškroun manufacturing plant and particularly in the new Svitavy plant.
"The sum of EUR18.5m is to be spent on the construction of the new manufacturing hall in Svitavy," said Lanškroun plant manager, Jan Golán, "The main focus will be on manufacturing thermal management modules (TMMs), for which there has recently been an extremely high demand from Schaeffler's existing customers.
“We are also confident we will acquire further customers as well. We supply numerous renowned car manufactures in the European and overseas."
The thermal management module controls thermal conditions during engine operation and regulates the temperature for the entire drive system, allowing the internal combustion engine to reach its optimum operating temperature quickly.