HEFEI, China — Continental A.G. has inaugurated production at the Phase III expansion of its six-year-old tire plant in Hefei, a project designed to boost capacity there 75 percent by 2019.
Conti budgeted $272 million for the expansion, which will boost annual capacity to 14 million car and light truck tires and nearly double employment to 2,700 workers.
Conti broke ground on the expansion project in November 2015.
This latest expansion "takes us a step closer to our long-term 'Vision 2025' strategy and will see us further improve the balance of our global manufacturing footprint," said Nikolai Setzer, head of Conti's Tire Division a an executive board member.
"We regard the Asia Pacific region, especially the China market, as the company's main growth engine for the upcoming years. This large-scale expansion once again represents our confidence and commitment to the China market."