PONTA GROSSA, Brazil (Dec. 12, 2011)—ContiTech A.G.'s Power Transmission Group plans to invest about $8.2 million to expand its Ponta Grossa belt factory.
The company's goal is to provide more space to double capacity of timing and multiple V-ribbed belts used for hydraulic power steering and air conditioning units, water pumps, and generators. About 40 new jobs will be created.
The expansion, which calls for adding 2,800 square meters to the facility, will be conducted in two phases. The first phase involves the physical addition and is expected to be completed in September 2012. The second phase involves the addition of new machinery, with a completion date set for 2014.