HANOVER, Germany (Oct. 29, 2007) — Continental A.G. said it plans to spend $216.2 million to build a passenger and light truck tire plant in Hefei, China.
Construction of the facility in Anhui Province will get begin in mid-2008 and be completed early in 2010, the firm said. The required permits still need to be granted by the central government in Beijing.
Conti intends to make premium Continental brand tires at the site, which will have an annual capacity of 4 million tires destined for domestic distribution.
The company said it will use ultra-modern production and environmental technology at the site, set up a qualification program and cooperate with the local university for employee training.
During more than two years of intensive study, Conti said it looked at more than 20 possible loca¼tions for the plant.