Singapore – Continental, the German international automotive supplier and tire manufacturer, has opened a new extension building to expand its R&D capabilities in Singapore. With a total capital investment of S$29.7 million (€18.3 million), the extension aims to meet the demand of growing engineering requirements in view of Continental’s worldwide business expansion and the growth of the automobile industry in Asia.
Continental operates 29 R&D centres in Asia and Continental Automotive Singapore Pte Ltd is one of the company’s three largest Asian R&D centres.
“We want to grow stronger in Asia and have increased our sales in Asia to approximately €6.4 billion in 2013. The Interior division is constantly striving to increase sales in Asia. The opening of our new, large-scale development site in Singapore is a clear sign of our commitment to local development and production in Asia,” highlighted Eelco Spoelder, chairman of the board of Continental Automotive Singapore Pte Ltd.
The new extension building accommodates around 450 employees and provides a total floor space of 5,000 square meters.
The number of Continental’s employees in Singapore has grown from about 650 in July 2012 to more than 900 today.