CTS to Build Plant in Czech Republic
Oct 12, 2005
CTS Corporation (NYSE:CTS) announced that it will establish a manufacturing operation in Ostrava, Czech Republic. Ostrava is located on the eastern border of the Czech Republic. Production is expected to start mid-2006. The facility will initially manufacture automotive products for the European market.
According to Jeff McCurley, Vice President and General Manager of CTS Automotive Products, "Our European sales are projected to double in the next five years. Expansion of our European manufacturing presence to the Czech Republic will better serve our European automotive customers. Locating our new plant in Ostrava offers low costs, availability of technical skills and necessary manufacturing infrastructure," added McCurley.
Vehicle manufacturers continue to establish and expand their manufacturing capabilities in Eastern Europe. These OEMs expect suppliers to be logistically close to their manufacturing plants to minimize inventory and transportation costs.