This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Commercial Vehicle Group To Move To Facility In The Ukraine

NEW ALBANY, Ohio, July 17, 2012 /PRNewswire/ -- Commercial Vehicle Group, Inc., (Nasdaq: CVGI) a leading supplier of fully integrated system solutions for the global commercial vehicle market, is pleased to announce that it is moving to a new facility in L'viv, Ukraine.  The new plant will replace CVG's currently leased building in Kamyanets-Podilsky, Ukraine and will also be leased.  Capital expenses and costs for the move are anticipated to be in the range of approximately $1.2 to $1.4 million.  The Company expects the capital requirements to be substantially completed in the second half of 2012.     

The new 8,000 square meter (86,211 square foot) building will produce wire harnesses and other electrical distribution system products for both light vehicles and commercial vehicles such as heavy trucks and construction equipment.  Pre-launch activities have already commenced with a formal opening scheduled for October 2012 when total employment is expected to be approximately 125.  Existing orders should result in the employment of approximately 650 workers by the end of 2013 when all work is launched or transferred to the new building.

The new L'viv plant will produce wire harnesses for Webasto, Continental and CVG's new Skoda Auto a.s. contract that was announced in November 2010 and set to begin production in 2012.  Skoda Auto, located in Mlada Boleslav, Czech Republic, is a member of the Volkswagen Group, the largest car manufacturer in Europe. 

The Skoda contract calls for CVG to provide the auto manufacturer with wire harnesses to be used in car doors, seats, bumpers and parking sensors for two new car lines.  Currently, CVG is delivering similar products for the Skoda Yeti, an SUV, and the Superb B6.  In addition to the manufacture of parts, CVG is also supplying Skoda with design activities, development and engineering services, drawings, prototyping, production samples and customer service assistance.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,832.63 +112.71 0.64%
S&P 500 2,092.35 +11.94 0.57%
NASDAQ 5,133.9850 +25.3190 0.50%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs