ANKLAM, Germany—The town council of Anklam has approved Continental's plans to establish a laboratory there for developing natural rubber derived from the Russian dandelion, and has agreed to sell Conti a 323,000-sq.-ft. plot of land for that purpose.
The tire maker announced in August plans to invest $39 million over five years toward developing the material, which it refers to as Taraxagum. The plans include building a dedicated research and development facility in Anklam.
"We are very pleased indeed with the town council's approval of our long term project plans," said Burkhardt Koeller, chairman of Continental Reifen Deutschland G.m.b.H., Conti's German subsidiary.
The next steps, Conti said, are to acquire the plot of land in Anklam's Lilienthalring business park, get a building permit and erect the first building.
Koeller said the Anklam town council showed its support for the "major entrepreneurial risk" by selling the company its chosen plot of land for 1 euro.