1000 Jobs Coming to Connecticut
1/29/2007
Vasilios Koutsobinas, CEO of the Euro Group of Companies and Mike Healey, President of Eurospeed USA announced that the Euro Group has begun looking for a location for an assembly line in Connecticut for a number of products that the Euro Group imports into the United States.
The Euro Group of companies import Chinese motorcycles, motor scooters, television sets, cell phones, generators, air conditioners and other products manufactured throughout Asia for distribution in Europe and North America.
Eurospeed USA, Inc. will be headquartered in Ansonia, Connecticut at 500 Main St. and 17 Henry Healey Drive. Eurospeed USA is the sole distributor for the Eurospeed line of Chinese Motor Cycles and Motor Scooters for North America and Israel.
“The 1000 jobs will come in stages. Our biggest assembly lines will employ over 250 people per assembly line,” said Koutsobinas. “Our small assembly lines will employ over 75 people per line. We have formed a committee that has started to search for suitable locations within Connecticut. We hope that within 60 days we will be able to announce where our first assembly line will be located. When our first expansion phase is finished, we expect to have a work force of over 1000 people,” he said.
Eurospeed USA and the Euro Group has elected to partner with Connecticut firms, wherever possible, to work on projects for its North American operations.
Parcel Port of North Haven Connecticut and Phoenix Arizona will handle the parts and transportation logistics for several of Euro product lines
Ken Genovese and New England Dealers Services, Inc. of Cheshire, CT will assist in the recruitment of the 1325 dealers nationwide needed to represent our Eurospeed line.
Quinn and Gellar of New London, CT have been hired to direct the marketing and advertising efforts for the Eurospeed brand.
Greenhaus and Riordan of New Milford, CT have been hired to facilitate any of the papers and documents that are required by the State of Connecticut.
DeCarlo and Doll of Hamden, CT have been retained to help with any of the design work needed for our factory layouts.
Highway Multimedia Corporation, headquartered in the Empire State Building in New York City will install the state-of-the-art “Virtual Business Manager” software programs in Eurospeed dealerships in the Untied States.
“Mike Healey was a major influence in our decision to come to Connecticut,” said Mr. Koutsobinas. “Euro Group picked Healey’s company to be our exclusive distributor for the Eurospeed brand of products because of his unique background and extensive retail experience. He is a seasoned veteran of the day-to-day retail selling world. We really feel we have to make a difference in the American marketplace. This directly relates to our long term goal to import all consumers’ transportation needs not just motorcycles and motor scooters, but eventually cars and trucks,” Koutsobinas said.
Over the next 24 months Eurospeed USA plans on signing 1,325 dealers nationwide to sell and service the Eurospeed products. Eurospeed’s sales goal, in the USA, for the 2007 calendar year is forecasted to sell 25,000 Eurospeed motorcycles and motor scooters. The sale goal for the 2008 model year, in the USA, calls for sales between 50,000 and 72,000 units. In addition to Eurospeed sales in the USA, the Connecticut assembly operations will supply our international distribution network plans and needs. Eurospeed’s long term plans are to also import cars and trucks from Asia in the 2009-2010 model year.
“A large part of the decision to choose Connecticut over other states was the professional and exceptional cooperation that Connecticut elected officials and various state agencies demonstrated in their meetings with our representatives when we made inquires about coming to Connecticut,” Mike Healey said. “Congresswoman Rosa DeLauro, Ansonia Mayor Jim DellaVolpe and State Representative Linda Gentile showed the interest in our company and our plans to come to Connecticut. That did make a difference in our decision. They gave us all the reasons why Connecticut is a great state in which to do business,” Healey said.
“The immediate and overwhelming positive response from the political, business and bureaucratic communities in Connecticut to our inquiry to come to this state was impressive. Letters or calls of encouragement for our project were received from the Speaker of the State House Jim Amann, Representatives Gentile, Belden, Klarides and Greene along with State Senator Joe Crisco. Senator Dodd, Senator Lieberman along with Congresswoman DeLauro wrote a letter encouraging our company to consider Connecticut for the home of our first assembly plant in the United Sates. Bill Purcell from the Lower Naugatuck Valley Chamber of Commerce and Mayor DellaVolpe personally took our representatives on a tour of the possible sites in the Valley for our first plant and future plants,” Healey said. “That personal touch was a deciding factor in our decision.”
Connecticut state agencies were equally helpful and cooperative. “When we asked about any programs that the State offered to help new businesses to move to Connecticut, the response was friendly, immediate and constructive. Thanks to the impressive support from all interested parties, we have signed letters of intent and are moving ahead quickly to find the best location. Our committee will narrow down the preferred sites in the next 30 days and Greenhaus and Riordan will start the paperwork process with the State,” he said.
Eurospeed’s target market is the 20-35 year old. This age group is the largest untapped demographic in the transportation industry. By appealing to this age group with fuel efficient transportation that have a MSRP of $1500 to $4000, the company feels that these consumers will become loyal, long term customers of all the Eurospeed and the Euro Group products.
At the NADA convention in February Eurospeed will show their new product line up and start to sign dealers to represent them in the market. Our first dealer appointments will be announced at the Convention.
As Americans look for significantly better fuel economy and less costly modes of travel the quality, popularity and cutting edge innovation of Eurospeed’s products in Asia and Europe will soon transform the transportation landscape in the United States.
For more information on Eurospeed, please contact Mike Healey at 203-736-5302.
