Continental will invest 20 million euro at its plant in Kaluga, Russia.
The foundation stone of the Powetrain plant in Kaluga was laid yesterday, April 4th, in the presence of governor of Kaluga region. The 20 million euro investment will help Continental increase production of its engine control and fuel supply units.
“The Russian vehicle market is one of the fastest-growing markets in the world. This is why Continental is also set on expanding its operations here and intends to position itself as the world’s leading supplier of electronics,” said José Avila, head of the Powertrain Division and member of the Continental AG Executive Board.
The Powertrain Plant in Kaluga will manufacture around 1 million engines annually and will cover an area of 7,200 square meters. The construction is expected to be finished by the middle of 2013 and production will most likely begin in February 2014. Continental estimates that around 100 new jobs will be created by 2016. Currently the company has around 400 employees at the Kaluga site.
“There will be a demand for inexpensive yet high-performance systems in Russia. Our innovative 32-bit Easy-U engine control unit is exactly the right product to satisfy this demand”, said Wolfgang Breuer, head of the Engine Systems Business Unit at Continental Powertrain.