CONTINENTAL TO INVEST EUR150MN IN FACTORY IN HEFEI
AsiaInfo Services, November, 2007
AsiaInfo Services 11-01-2007 Continental to Invest EUR150mn in Factory in Hefei HEFEI, Nov 01, 2007 (SinoCast via COMTEX) -- Continental AG, a world leading auto parts and component manufacturer, will spend EUR 150 million building a tyre factory in Hefei High-tech Zone in East China's Anhui Province. The factory, which will be invested with EUR 150 million, will kick off construction in 2008 and is expected to start production in early 2010.
Four million tyres for passenger cars will be manufactured annually as its ultimate goal. The company chooses Hefei as the location of the factory for strategic concern. Anhui Province has China's largest homegrown automaker Chery Automobile and has attracted a cluster of global auto giants. Besides, Hefei is 450...
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