Continental on Friday said it plans to invest about EUR220m building a new tyre plant in Kaluga, near the Russian capital Moscow.
Kaluga is home to a Peugeot car plant.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The plant will have annual capacity of about 4m tyres, and production is set to start at the end of 2012. The company said it plans to hire around 400 people before the end of 2013, Dow Jones reported.
Nikolai Setzer, head of Continental’s passenger and light truck tyres division, said the company is targeting profitable growth in emerging markets and will be investing more than EUR1bn over the next four years to build up additional passenger tyre capacity.
