Continental to set up new plant in Bangalore
New
Delhi,
Jan
13:
German
car
components
manufacturer
Continental
AG
said
it
will
invest
Rs
100
crore
in
a
new
plant
in
Bangalore
and
focus
on
building
more
components
for
low-cost
car
makers
in
emerging
markets
like
India.
''We are setting up a new automotive electronics plant at Bangalore with an investment of Rs 100 crore,'' said company Managing Director (Asia) Markus Distelhoff. The plant is expected to be operational by May this year and it will replace company's existing plant in Bangalore, Mr Distelhoff said. The plant would also include a research and development centre, and would take the number of manufacturing facilities to six.
Continental is targeting 60 per cent annual growth in its India operations by 2012, He added.
UNI