ERJ staff report (DS)
Geneva, Switzerland -- Continental Tyres is in the final stages of preparing a global expansion plan, which will involve substantial new capacity in developing regions of the world, primarily the BRIC countries - Brazil, India, Russia and China.
The plan is currently being finalised, and is expected to go for main board approval in early May, with an announcement of substantial new capacity and investment of hundreds of millions of euro over the coming five years.
The news was given by an offical spokesman at the Geneva Auto Salon on 1 March, but no further details were available. He said the company's plant in China (Anhui) is coming on stream at present, and the company currently sells around 1 million units per year of Continental brand tyres into that country, but the aimis to significantly expand sales of Continental tyres in many developing markets over the next 5 years.
