ST. LOUIS -- Viasystems Group will spend up to $100 million over the next 24 to 36 months to upgrade technology and expand capacity at its printed circuit board plants.

The PCB maker will lay out an initial investment of $20 million to $30 million over the next six months.

The company said the decision is driven by recent demand trends.

“If our markets continue to be as vibrant as they have been for the last nine months,” said David M. Sindelar, chief executive, “we’re going to need to add capacity over the next two to three years to meet our customers’ needs. We expect to fund our capacity expansion with the cash flow from operations and do not expect to increase our borrowing for these projects.”

The initial investment will bolster Viasystems’ technological capabilities for high density interconnect technology and thermal management solutions, expand overall production capacity and enhance wastewater treatment and water recycling capacity.