ST. LOUIS (AP) -- Circuit board manufacturer Viasystems Group Inc. said Thursday it plans to invest $100 million to expand its production facilities over the next two or three years.
The move is a response to rising demand for its printed circuit board products, the company said.
"If our markets continue to be as vibrant as they have been for the last nine months, we're going to need to add capacity over the next two to three years to meet our customers' needs," said CEO David Sindelar.
The company expects to fund the expansion initiative with cash from operations and doesn't anticipate having to boost borrowing to complete the projects.
The company has already rolled out an initial investment of up to $30 million on the expansion effort.
Shares in Viasystems Group added 3 cents to $14.82 in aftermarket trading after falling 68 cents, or 4.4 percent, to $14.79 during the regular session.
