On October 28, Continental, the parent company of the company's brand tires, announced that it will establish its first tire factory in Hefei, Anhui Province, with a total investment of 150 million euros. The new plant will begin construction in mid-2008 and will be officially put into production in early 2010.
Chairman of the German Continental Group Board of Directors, Manfred Winnimma, said in a speech at the headquarters in Hannover, Germany: “All departments of the Continental Group will have their own production bases in China.â€
The new factory will be mainly responsible for the production of super high-performance tires from the Group's premium brand “Ma Brandâ€, together with the most advanced production and environmental protection technologies as the technical support. The ultimate goal is to take the opportunity to build a factory in Hefei. Annual production capacity of car tires reaches 4 million. The German brand Tire also announced that it will cooperate with local universities to conduct a qualification training course and provide professional training and management for employees.
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