German autoparts maker Continental is set to invest EUR165m in the expansion of its truck and bus tire cfacilities in Otrokovice, Czech Republic.
This five-year expansion program will double the truck and bus tire production capacity at that site to almost 1.5 million units annually.
Continental commercial vehicle tires business unit head Andreas Esser said that the expansion of their truck and bus tire manufacturing footprint in Otrokovice is a strategic step focusing on long-term market growth.
"The plant will not only continue to serve Europe, Middle East and Africa; we will develop Otrokovice also into a production hub for The Americas and Russia," Esser added.
This new investment is expected to create more than 300 new jobs throughout all production areas by 2015.
Continental Commercial Vehicle Tires Manufacturing Head Thierry Wipff said: "This additional capacity will give us more flexibility especially in regard to the product portfolio, and it gives us a chance to supply markets in Americas and Russia."
Earlier in 2013, the tire maker also announced plans to invest EUR70m into its North American truck and bus tire production in Mount Vernon, US, and EUR100m into its European truck and bus tire production in Puchov, Slovakia over the next years.
