ContiTech acquisition strengthens drive belt presence in China
With the acquisition of the business of Chinese manufacturer Taizhou Fuju Rubber Belt Manufacture, ContiTech of Hanover, Germany, is continuing the expansion of its drive belt business in China.
To date, the Chinese company, founded in 1993, has predominantly manufactured drive belts for the automotive replacement business and for industry in general. In the future, ContiTech will make use of a 33,000m² production complex which has just been completed.
The plant is located in Sanmen in Zhejiang province, south of Shanghai, where ContiTech will be taking on a total of around 100 employees from Fuju.
“This acquisition enables us to achieve further above-average growth in China," says Heinz-Gerhard Wente, member of the executive board at Continental and head of the ContiTech division.
“In a very short time frame, we are expanding our production capacities in China and strengthening our drive belt business unit.”
The new plant is just 50 km away from the ContiTech plant in Ninghai, where belts for the automotive sector and for industry in general are manufactured.