ContiTech plans ‘multi-million-euro’ investment in China
4 May 2018
Hanover, Germany – Continental is earmarking a “high double-digit million Euro” amount to expand its production capacity in its ContiTech locations in China this year, company spokeswoman Antje Lewe has confirmed to ERJ.
The investment, at an unspecified location, will focus on the local production of automotive hoses as well as environmentally-friendly surface materials for the Chinese market, said Lewe.
Chinese news agency Xinhua on 23 April cited ContiTech CEO Hans-Juergen Duensing as saying that the project would build on investments of €200 million by his company in China over the last five years.
ContiTech has 13 locations in China, where it has been operating for more than 30 years. Among other products, it produces air springs for the commercial vehicles as well as for the passenger coaches of Chinese high speed trains as well as urban metro cars.
ContiTech also develops and manufactures interior trim material, lightweight engine mounts and hoses for the automotive industry.
According to Lewe, the new expansion involves the supply of V-ribbed belts and raw edge V-belts “well-known Chinese carmakers.”
In his interview with the Chinese agency, Duensing also referred to investment plans in Hanover, Germany, where the company is headquartered.
According to the CEO, ContiTech invested roughly €33 million in its locations in Hanover throughout 2017 and is planning to invest “roughly the same amount” in its facilities in the city this year.
This, he said, would mainly go towards increasing production of transmission belts for the agricultural machinery.