Oct. 13, 2006 — The Japanese company Hitachi Ltd. has begun construction of a plant for the production of flat-panel displays in the Triangle industrial zone, which is approximately 80 km northwest of Prague in the Usti region of the Czech Republic.
The new branch, created to meet the growing demand for flat-panel TVs in Europe, will employ up to 1,500 people. The operation will include a design and R&D division, which will be in close contact with the R&D division of Hitachi Europe.
“As a leading player in the global consumer electronics market, Hitachi brings a wealth of knowledge and expertise that we believe will yield benefits to the region as a whole,” says Makoto Ebata, CEO of Ubiquitous Platform Systems, Hitachi Ltd., in a prepared statement.
“Investors coming to the Czech Republic are bringing cutting-edge R&D projects and leveraging our human resource capabilities,” says Tomas Hruda, CEO of CzechInvest, the investment and business development agency, in a prepared statement. “The R&D division of Hitachi’s branch in the Czech Republic is an exciting project that aligns with the skills of the region and the country’s long-term economic development vision.”
Hitachi will invest approximately $76 million million in the plant. Recruitment of employees for middle-management positions is currently underway. Production, which is expected to begin next summer, should reach 80,000 plasma and LCD TVs per month.