CTP (Euronext Amsterdam:CTPNV), an owner, developer and manager of logistics and industrial real estate, said on Friday that it has signed an agreement with Grammer Jifeng Automotive Seating CZ to build a new 21,000 square metre facility at CTPark Cheb in the Czech Republic.

Grammer Jifeng, a joint venture between Grammer AG and Ningbo Jifeng Auto Parts, specialises in automotive interior components. The new facility will be used for manufacturing, testing and storage.

CTPark Cheb's strategic location near the German border make it an ideal location for automotive companies.