Conti announces capacity-doubling Brazil investment
A US$210 million investment in Continental’s Camaçari, Brazil plant is expected to boost capacity to around nine million passenger car tyres and almost a million truck tyres per annum within the next five years. Announcing the growth plans, Continental Tire the Americas CEO Matthias Schönberg stated “this investment is part of Continental’s strategy to grow our tyre operations worldwide significantly, especially in the BRIC countries. It will allow us to almost double the production capacity of the Camaçari plant by the end of 2015.” The first signs of capacity growth will be witnessed this year as plant capacity is expected to creep up from its current approximate level of 4.5 million passenger tyres and 350,000 truck tyres to 5 million passenger tyres and 450,000 truck tyres.