Conti signs MoU with Chinese tyre maker, Doublestar

Continental AG has announced that it has signed a memorandum of understanding with Qingdao Doublestar Tire Industrial Co., Ltd of Qingdao, China. The memorandum expresses both companies’ intention to found a tyre-manufacturing joint venture in the spring of 2005.

Conti expects to be the majority partner, according to a statement from the company, and the two companies expect to expand tyre capacity at Qingdao’s existling location and to build a new plant to make passenger and light truck tyres

Conti said it expects the name of the…

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