26 Jul 2011
ERJ staff report (DS)
Hanover, Germany -- Continental`s CEO, Dr. Elmar Degenhart, and the governor of the Kaluga region, Anatoly Artamonov, have signed a memorandum of understanding on a new passenger tyre plant in Kaluga, Russia.
The company plans to invest some €220 million in Kaluga, with construction of the factory slated to get underway in 2011. Production will then be launched at the end of 2013. With an annual output of about four million tyres in its first full-capacity phase, the plant will have a workforce of about 400 by the end of 2013.
At an appropriate time the plant can boost annual capacity to eight million passenger tyres. The Russian government has pledged to support the new site.
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Press release from Continental
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