ContiTech sets up hose JV in China

HANOVER, Germany (May 25)—Continental A.G.´s ContiTech industrial products division has set up a joint venture in China to make power steering hose assemblies for Volkswagen A.G. and General Motors Corp. subsidiaries there. ContiTech A.G.´s fluid handling unit and the Chinese company Liang Yi set up ContiTech Fluid Shanghai Co. Ltd., a 50/50 joint venture that will start production in late July, Conti said. The venture will supply systems to VW for the Santana and B5 Passat and GM for Buick models assembled in China.