Another Japanese investor is entering the Czech Republic. HI-LEX Corp., a manufacturer of components for vehicles, construction and industrial machines, and household appliances, has established the firm HI-LEX Czech, s.r.o., which will manufacture door systems for automobiles. The company is investing CZK 1.16 billion for its new factory in Most.
“The majority of Japanese firms in the Czech Republic operate in the automotive industry and manufacture quality products for the German market. A number of them are supplied by Czech subcontractors,” says Karel Kučera, CEO of CzechInvest.
Construction of the company’s factory in Most should be completed in June 2018. HI-LEX Czech intends to hire 100 employees in the first phase and plans to eventually employ up to 250 people in 2023.
“We chose the Czech Republic as our important production and supply base, because the country provides mature business environment, as well as a strategic location from which we can expand business globally, especially towards the European automotive markets,” says Taro Teraura, president and CEO of HI-LEX Europe GmbH, commenting on the reasons for the company’s selection of the Czech Republic for its further activities.
Japanese companies are the second most important investors in the Czech Republic behind German firms. CzechInvest has arranged Japanese investments worth nearly CZK 124 billion, which have created 28,706 jobs. In most case, these involve investments in the automotive industry and related sectors such as electronics and mechanical engineering.