Gold Cup Wire Invests $100M to Launch First European Magnetic Conductor Plant
Gold Cup Electric Apparatus Co., Ltd. will expand its manufacturing footprint into Europe.
The China-based producer plans to invest about $100 million to build its first European plant.
Gold Cup will locate the new facility in Planá u Mariánských LáznÃ, Czechia.
The project will support growing demand for electrification and energy infrastructure.
Learn more about Gold Cup Electric at https://www.goldcup.com.cn.
CzechInvest Supports the Project in a Repurposed Industrial Site
Gold Cup will complete the project through its subsidiary, Gold Cup Electric Electromagnet Wires Co., Ltd.
The company operates under the name Gold Cup Wire.
According to a release from CzechInvest, Gold Cup Wire will build the plant on a former chocolate packaging site.
The new facility will produce up to 20,000 tons of magnetic conductors per year.
CzechInvest provides investment support for international manufacturers in Czechia.
Visit CzechInvest at https://www.czechinvest.org.
Plant Will Serve Transformers, Motors, Renewable Energy, and EV Markets
Gold Cup Wire will supply magnetic conductors for fast-growing industrial sectors.
These include transformers, electric motors, and equipment for renewable energy and electric vehicles.
The plant will manufacture magnetic conductors and electromagnetic wire, including flat and round formats.
It will not produce finished power cables or data cables.
Gold Cup Wire will sell its output to cable and equipment manufacturers.
Those customers will integrate the wire into complete cables, transformers, and electric machines.
Automated Production Will Create 70 Jobs First, Then Scale to 200
Gold Cup Wire will use a highly automated manufacturing process at the Czech facility.
Automation will reduce manual production tasks and increase consistency.
The first phase will create about 70 jobs.
The workforce could grow to 200 jobs by 2028.
Leadership Calls the Move a Milestone for Czechia and Europe
Gold Cup Wire CEO Fred Feng described the project as a major shift for the industry.
He said the facility marks the first time advanced magnetic-wire manufacturing has moved from Asia to Europe.
CzechInvest representative Gabriela Bauerová pointed to a larger trend.
She said more companies now move production closer to regional markets.
That shift helps Central and Eastern Europe attract more high-tech investment.
