EIB Lend a Hand to Conti Brazil

The European Investment Bank is providing a loan of 40 million euros to Brazil so that the development of a new Continental production facility can be put into operation.

Brasil Produtos Automotivos Ltda will manufacture passenger car tyres of which the majority will be exported to the NAFTA market to satisfy the growing domestic demand.

The site’s annual capacity will be more than 4 million tyres. The project will create some 600 jobs and is to be completed by the end of 2007.