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May 13, 2015
Simoldes Plasticos, a Portuguese automotive supplier, is headed to Panattoni Park Rychnov nad Kněžnou.

Simoldes Plasticos to invest EUR 30 million and create 300 new jobs in Kvasiny

The company plans to create a few hundred new jobs in the park currently under construction by the international industrial developer Panattoni Europe. The available land in the park in Rychnov nad Kněžnou’s district Lipovka, just a few hundred meters from Kvasiny, where Simoldes Plasticos plans to invest EUR 30 million (over CZK 800 million), was prepared by Czech group Accolade. When selecting the most suitable location for its project Simoldes Plasticos was advised by real estate consultancy company CBRE. Simoldes Plasticos will be able to deduct a part of its investment from its income tax thanks to an investment incentives from the Ministry of Industry and Trade mediated by CzechInvest. 

“Aided by the Ministry of Industry and Trade, Simoldes Plasticos plans to create almost 300 new jobs in Kvasiny. This is a testament to the pro-investment policy this government is pursuing and it is yet another proof that our efforts bring about tangible results and help create industrial hubs around the country from where employment, prosperity and economic growth stems,” says Jan Mládek, Minister of Industry and Trade.

„For Simoldes this location is strategic because we can support our customers strategy and growth. We believe it is the right location not only to supply Skoda Auto plants but also to supply other OEM plants within Central and Eastern Europe. The adequate infrastructure and the availability of technical knowhow combined with Simoldes experience and expertise make us believe that this new facility will be capable to deliver quality and competitive products and services, recognised by our Customers,“ said Jaime Sa, CEO Simoldes Plasticos.

“We will provide Simoldes Plasticos with a new 22.000 square metres industrial building tailored exactly to their needs. We offered well-prepared land ensuring that we can safely and on time deliver the new building to our client in just a few months. It was this speed that Simoldes Plasticos particularly appreciated,” states Pavel Sovička, Managing Director Panattoni Europe Czech Republic, adding that ground works on the new park are currently starting in Lipovka. 

Land for the new industrial Park in Lipovka was prepared by Czech group Accolade. “Two years ago, we concluded that the industrial zone in Kvasiny is awaiting rapid development in a very near future. Therefore we immediately started searching for suitable land in its neighbourhood," says Milan Kratina, Chairman of the Board of Accolade, adding that Accolade and Panattoni Europe still have land available to accommodate new investors around Kvasiny.

Lukáš Šaling, Senior Industrial Agent CBRE, who coordinated negotiations with Simoldes Plasticos, says: "Kvasiny was Simoldes Plasticos’ preferred choice thanks to its close proximity to Skoda Auto. We pointed out several interesting sites in the Kvasiny region and in the end in a tender Panattoni Europe offered the best terms that best suit Simoldes Plasticos’ company strategy."

“CzechInvest, the Investment and Business Development Agency of the Czech Republic, successfully mediated an investment incentive on behalf of Simoldes Plasticos. The company can thus deduct a part of its initial investment from its corporate income tax,” says Karel Kučera, CEO of CzechInvest. Even during the period when Simoldes Plasticos can lower its corporate income tax, it still pays all the other taxes and fees and as a study by Deloitte concluded a few years ago – granting an investment incentive means a greater income for the state budget.