German Continental AG to scale up investment in China
German Continental AG said Thursday it plans to scale up investment in China and introduce environmentally friendly technology to improve competitiveness.
Continental, the biggest auto parts supplier in Europe, said that 10 percent to 12 percent of its current earnings comes from Asian markets, where its sales are expected to double by 2015.
Continental has recently invested 55.5 million euros (88.2 million U.S. dollars) in Changshu in China’s southeastern province of Jiangsu to build a hydraulic brake factory..
The company said it will make Changshu its production center of the hydraulic brake system in East Asia.
Continental, a world-leading manufacturer of tires and brake systems, has become one of the top five international auto parts suppliers after acquiring Siemens VDO.