By Stocksak, Germany’s Continental announces a $210 Million Mexico expansion

© Stocksak. The logo of Continental, a German tyre company, is shown before the annual news conference, which took place in Hanover, Germany on March 9, 2021. REUTERS/Fabian Bimmer

MEXICO CITY – Continental AG (OTC 🙂 announced on Thursday that it will invest around 209.48 million dollars in Guanajuato state, Mexico. It plans to open a new plant and increase capacity at an existing facility.

Continental stated in a statement that it expects to create over 1,500 new jobs with the investment.

The company stated that the expansion of the current plant and construction of a new factory for automotive electronics are both 75% complete. Both projects are expected to be “inaugurated” and operational by the beginning of next.

The current Las Colinas plant of Continental in Silao (Guanajuato), is located in central Mexico. It focuses on car brake components.

Marco Galluzzi, President Continental Mexico, spoke out citing Guanajuato’s “competitive” geographic position and highway connectivity as the reasons for the expansion. The expansion aims to “continue increasing” the company’s capacity in the region.

($1 = 1.0025 euros)

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