Logistics developer-investor Panattoni has announced the start of construction of a new facility near Stribro in the Czech Republic for office forniture manufacturer Steelcase.
Logistics developer-investor Panattoni has announced the start of construction of a new facility near Stribro in the Czech Republic for office forniture manufacturer Steelcase.
The new build-to-suit project, worth €24 mln, will see Panattoni develop 27,000 m2 of floor space, with completion expected by the autumn.
'Recent arrivals of several new large investors confirm that the Czech economy is recovering,' commented Jan Mládek, minister of industry and trade.
This is the second major investment in Panattoni Park Støíbro in the space of a few weeks. Panattoni, along with the Czech Accolade Group, recently secured new land adjacent to the industrial park for a potential expansion of the site.
'We are now witnessing renewed interest in investing in the Czech Republic as the European economy struggles to grow again and healthy companies prepare themselves for an anticipated upturn in the market,' said Klara Fritsch, corporate solutions coordinator of Panattoni Europe Czech Republic.
Panattoni Europe operates 14 industrial parks in the Czech Republic and Slovakia. Last year the company said it was teaming up with the Accolade Group to carry out a major expansion of its portfolio of industrial parks. The partners plan to add five new sites in Mlada Boleslav, Kvasiny - Rychnov nad Kneznou, Cheb, and Slovakian Krasno nad Kysucou.