Conti budgets $1.3B for tyre plant improvements, expansions

ERJ staff report (TB)

Hannover, Germany — Continental A.G. is budgeting more than $1.3 billion in investments in its tyre business in the coming years, above and beyond the $1.3 billion it’s committed in the past 18 months to new plants in the US and Russia and expansions in India and Brazil.

Conti CEO Elmar Degenhart disclosed the investment commitment in his comments this week to the financial community during the firm’s fiscal 2011 results conference.

Degenhart did not elaborate on the nature of the investments, other than…

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