Conti invests €17.5m in Singapore R&D site

ERJ staff report (LMH)

Singapore – Continental is to invest €17.5 million in a new R&D building in Singapore, to meet the demand of growing business in Asia and worldwide.

The automotive supplier currently operates 17 R&D centres in Asia, of which the Singapore site is one of the company’s three largest in the region.

“We want to grow stronger in Asia and can report that Continental generated sales of some €6 billion in Asia 2012,” commented Lo Kien Foh, managing director of Continental Automotive Singapore. “It is our strategic goal to increase the share of corporate sales on the Asian market from 18% at present to more than 30% over time.”

Continental said it aims to complete the project in just over one year. The new extension building will accommodate around 450 employees and provide a total floor space of 5000 m².

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news release from Continental