BRASILIA, Brazil—Continental A.G. again is increasing its footprint in South America, investing more than $28 million ($160 million Brazilian real) in steel cord conveyor belt manufacturing operations.
The expansion will incorporate the company's efforts toward climate neutrality by 2050 and includes new facilities and new machinery. A location within the capital city of Brazil has not yet been determined.
The expanded area is slated to be operational by some time in 2024, Conti said, and will include an expanded mixing line.
"Around the globe, Continental is committed to employing and providing the safest and most sustainable solutions in the mining industry," Friederichsen said. "By far the world's largest regional market for heavy steel cord belts is in South America, determined by the three countries Brazil, Chile and Peru."