Czech Republic-based CGS Tyres is in discussions to open an agricultural tire production plant in Charles City, Iowa. Production is expected to begin in January 2012.
CGS is expected to sign investment and incentive agreements on Aug. 31.
"Iowa is central to our North American strategy," says Jaroslav Cechura, CEO of Mitas, a CGS Tyres group member. "We are expanding our production capacity and we will provide U.S. farmers with U.S.-made Mitas and Continental (brand) tires."
CGS officials say details of the investment, including total sum invested and number of jobs created, "are subject to agreements with the Iowa Department of Economic Development" and other government entities.
CGS, which has four production facilities in Europe, plans to expand the Charles City plant in three stages.
