18.03.2022
CONTINENTAL IS INVESTING ANOTHER 150M EUROS IN ROMANIA
German carmaker Continental has invested another 150m euros in 2021 in its Romanian business and plans to invest the same amount this year.
In recent years, the giant has invested an average of 150m euros a year in its Romanian business. From 1999 to 2021, Continental invested more than 2 billion euros in Romania.
The company intends to invest in projects to expand its buildings and new equipment for its engineering centers, as well as its tires, electronic components and factories ContiTech in 2022, said in a press release from Continental, quoted by SeeNews.
By the end of 2021, Continental has more than 17,500 employees in its engineering centers and production facilities in Romania. They are 2,600 fewer than the company's employees by the end of 2020. The difference is due to the separation of the propulsion systems division from the Continental Group in 2019. The division was renamed Vitesco Technologies.
All 3 divisions of the company are represented in Romania. Continental has 6 plants and 4 engineering centers in Timisoara, Sibiu, Carey, Nadab, Brasov and Iasi. The company also has a tire distribution center in Bucharest.
Continental has more than 230,000 employees and is the fourth largest tire manufacturer in the world with tens of billions of euros in annual turnover. It also manufactures braking systems, internal electronics, automotive safety, chassis drives and components, tachographs, tires and other parts for the automotive and transportation industries. Its customers are all major manufacturers of cars, trucks and buses.