A company based in Czecholslavia plans to build an agricultural tire production plant in Charles City, and it is scheduled to begin producing tires in early 2012. The plans were announced earlier this week by Iowa Governor Chet Culver at the 2010 Farm Progress Show at Boone in central Iowa.
The company, CGS Tyres, will build the U.S. plant to produce farm radial tires. CGS is spending $43.81 million to build the new facility. At the Farm Progress Show representatives of CGS Tyres and the Iowa Department of Economic Development signed an investment agreement marking the end to negotiations that begun in 2009. CGS Tyres is committed to creating at least 159 new jobs for local residents. Production is scheduled to commence by January 1, 2012.
"We bring 78 years of expertise in tire-making," said the company's chief executive officer, Jaroslav Cechura. "U.S. farmers will benefit from our advanced tires and increased competition." The Charles City factory will produce the Mitas and Continental brands of farm radial tires for the North American market.