PRAGUE, Sept 25 (Reuters) - German tyre and car-parts maker Continental AG plans to expand its Czech-based activities by opening a new 74-million euro plant for special high-speed tyres, a Czech state agency said on Thursday.
CzechInvest, the state agency for support of foreign direct investments, said in a statement that the German company expects to produce three million tyres per year in the eastern Moravian town of Otrokovice.
The bulk of production will be purchased by automakers Volkswagen , Daimler Chrysler , BMW , General Motors and Ford .
The new plant will create 430 direct new jobs over the next 10 years, CzechInvest said.