ERJ staff report (DS)
Rio de Janeiro, Brazil -- ContiTech will next year invest around EUR 17 million in the construction of a new plant in Brazil to produce hoses for use in oil production and gas extraction. Construction is scheduled to commence in spring 2013, with production set to begin one year later.
The new South American plant is a key strategic addition to ContiTech Fluid Technology's global production network, complementing the established Oil & Marine plants and engineering offices in the UK, Hungary, the US, and Germany. The segment forms part of the ContiTech Fluid Technology business unit, which is ContiTech's largest business unit with around EUR 1.3 billion in sales and 14,000 employees.
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Press release from ContiTech