Czech Skoda Power to invest EUR 27.7mn to boost capacity at Plzen plant.

By bne IntelliNews December 17, 2012
Czech maker of steam turbines Skoda Power plans to invest CZK 700mn (EUR 27.7mn) in the next three years to boost the capacity of its plant in the Czech western city of Plzen, CTK news agency reported citing company CEO Jiri Smondrk. The investment will help the company also raise the number of employees to 1,700 from 1,260 at present. Skoda Power, which was bought by South Korea's biggest maker of power equipment Doosan three years ago, targets to raise its annual sales from CZK 8.1bn expected for 2012 to CZK 15bn by 2017 thanks also to a new acquisition in India.

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