Tire maker Conti has poured approximately €250m (US$270m) into an expansion at its Hefei plant, which will boost annual production capacity from 8 million to 14 million tires by 2019.
Since 2011, Continental has been systematically ramping up production capacity in the Hefei tire plant, which has amounted to a total investment of about €570m (US$610m).
The initiative will also increase the number of employees to 2,700 – nearly twice as many as the current team of around 1,400 employees.
“The Hefei plant has undergone breakthrough developments, becoming the cornerstone of Continental Tires’ rapid expansion in China. We are thrilled to embark on the next stage of our expansion journey, unleashing the full potential of the Hefei plant through a third capital investment. As with any project of this scale and magnitude, the plans required an extensive amount of collaboration, in addition to trust and support from our local partners,” said plant manager, Jeff Wang.
April 20, 2017