SHANGHAI (Jan. 24) — Continental A.G. is leaning toward setting up a greenfield tire plant in China, rather than getting involved in a joint venture there, company officials said recently during the opening of the firm´s Asian headquarters in Shanghai.
Conti has budgeted about $370 million for the plant, but a spokesman said a final decision has not yet been made. In mid-2005, Conti broke off talks with potential partner Qingdao Doublestar Tire Industrial Co. Ltd, over difficulties with ownership of the proposed joint venture.
The Shanghai office represents all of Conti´s divisions, the firm said.
Conti already operates joint venture in China for automotive hose and hose assemblies and is setting up a joint venture there to make anti-vibration components for Chinese vehicle makers.