Hanover, Germany--Continental AG has laid the cornerstone for its next tyre plant. It wil be in Camacari in the Brazilian state of Bahia.
A statement from Conti said production of passenger tyres is planned initially to start in 2006. In the first phase, Continental will be investing approximately $260 million in the new plant with roughly 100 000 square meters floor space, creating more than 1000 jobs. Martien de Louw, member of the Continental Executive Board responsible for the passenger and light truck tyres division, announced that following the construction of the passenger tyre plant, a plant for commercial vehicle tyres would also be built. Production is scheduled to start at the beginning of 2007.
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Press release from Continental