ContiTech to build new hose plant in China
ContiTech announced that it has signed a Memorandum of Understanding (MoU) to construct a new plant for automotive hoses at the Sino-German Eco Park in Qingdao, China.
The company plans to invest more than EUR 20 million for the first phase, which will comprise setting up a greenfield factory with an initial floor space of approximately 15,000 m2. In the next few years, the company’s existing production of heating and cooling hose lines will be moved to the new location. The new plant has a projected annual output of about 15 million low pressure pipes in its first full-capacity phase. The plant is expected to be completed by 2020.
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