Japan Asmo To Open New Czech Auto Part Plant

Japan's Asmo Co. Ltd. will build a 400 million koruna ($ 1=CZK26.8) automotive component plant in the Czech Republic, Asmo and the Czech state-run investment agency CzechInvest said Tuesday. Asmo will start production of power window regulator motors, blower motors for air conditioner units and motors for throttle valve controls in May 2005, the company said in a statement. The company expects the new plant to generate up to 240 jobs by 2010 and annual sales of about EUR43 million. In recent years, the Czech Republic has attracted investments from scores of car components makers in part due to incentives, including tax breaks and free sites. Investors are also attracted by qualified, cheap labor and a thriving car manufacturing sector in the region.