ContiTech AG to expand in China

ContiTech AG intends to continue its expansion in China. The company, a division of Continental AG, a leading automotive supplier worldwide of brake systems, chassis components, vehicle electronics, tires and technical elastomers, made this clear during an interview with gasgoo.com.

"The Chinese market plays a key role in our corporate strategy. The rising employee headcount and increased investments amply demonstrate that," notes Mr.Jun Sheng Liu, China representative of ContiTech AG. "Investing in China today is a little different from years ago. Auto enterprises in China have more choices when choosing a joint venture partner now than before. To ensure that our products and technologies maintain their leading positing in their respective market segment, ContiTech may either take advantage of a JV or establish a solely owned enterprise in the China."

In China, ContiTech develops and produces functional parts, components and systems for the automotive industry, machinery and equipment engineering, mining, railway industry and printing industry.  Currently the sales volume of ContiTech in China only amounts to EUR70 to EUR80 millions, still a small amount compared with its over EUR2.8 billions worldwide. 
 
Mr.Liu said ContiTech looks to further expand in China and may resort to mergers if necessary, "but above all we will boost our procurement from the existing EUR3,0 million to EUR5,0 million and export them to ContiTech's global operations," added Mr. Liu.
 
ContiTech is the world's no. 1 specialist for rubber and plastics technology in the non-tire rubber sector.  The company has seven business units worldwide, including ContiTech Fluid Technology, ContiTech Conveyor Belt Group, Benecke-Kaliko Group , ContiTech Power Transmission Group, ContiTech Air Spring Systems, ContiTech Vibration Control and ContiTech Elastomer Coatings. ContiTech AG has a workforce of around 22,000 employees worldwide.  In 2006 it realized sales of more than EUR2.8 billion.  In China, ContiTech AG has a representative Office in Shanghai and severn operation entities, which are ContiTech Grand Ocean Fluid (Changchun) Co.,Ltd,  ContiTech Fluid Shanghai Co., Ltd,  Benecke Changshun Auto Trim (Zhangjiagang) Co., Ltd,  Shanxi Phoenix Conveyor Belt Co.,Ltd,  ContiTech-Jiebao Power Transmission Systems Co., Ltd, Shanghai Roulunds Rubber Products Co.,Ltd, ContiTech Air Spring Systems (Ninghai) Co., Ltd,  ContiTech Printing Blanket Shanghai Co., Ltd.