RAYONG, Thailand — Continental A.G. has laid the ceremonial cornerstone for its $265 million tire plant in Rayong, keeping the project on schedule to complete construction by year-end 2018 and start tire production by 2019.
The plant, Conti's sixth in Asia/Pacific, is projected to produce 4 million passenger and light truck tires per year by 2020. The land spans more than 8 million square feet, allowing for capacity at the site to be expanded up to 25 million tires per year, Conti stated.
According to Conti, the plant will be fitted with "state-of-the-art technology" and will be the company's "most environmentally friendly" plant. Employment for the plant's first phase will be 900.
At a cermony to launch of the project, Cameron Wilson, vice president of marketing and sales, passenger and light truck tires ASEAN, said the plant is in line with Conti's Vision 2025 strategy, which aims to expand and balance manufacturing to "best serve customers worldwide."
"One important pillar of our long-term strategy is to operate with an agile and flexible set-up that enables us to react quickly to the market requirements," Wilson said.
"Consequently, we are continuing to increase our investment in (the Asian) market by expanding not only our sales and marketing operations in Bangkok but also the number of Continental-branded retail shops," he added.
Conti celebrated a "first-piling" ceremony at the site in May.