Industrial group Hitachi (IW1000/22) said on May 29 that it would create 300 jobs as it launches production of shock absorbers next year at a plant in the Czech Republic.
Hitachi plans to use a plant near Zatec, about 47 miles northwest of Prague, where it had manufactured LCD screens until 2009. The company began making LCD screens in Zatec in 2007, but shut the plant down and fired its staff of 800 people just two years later.
Production was expected to begin in March.
Takashi Siraisi, head of Hitachi Automotive Systems' European unit, said the company was aiming for a stable production pace and workforce.
The company declined to identify potential clients for its shock absorbers, but the Czech news agency CTK noted that seven major car plants were situated within 100 miles of Zatec.
Hitachi reported earlier this month that its operating profit fell in the year to March due to the earthquake and tsunami disaster in Japan and Thai floods, and owing to lower revenue from digital services. Hitachi's annual operating profit fell by 7.3% to 412.28 billion yen (US$5.18 billion), while sales gained 3.8%t to 9.67 trillion yen.
Net profit shot up by 45.3% to 347.18 billion yen meanwhile, hitting a record high for the second consecutive year.