Germany-based tyre company Continental AG, also known as Conti, plans to expand its tyre production and global market share through building 7 new tyre facilities by 2025.
Nikolai Setzer, Conti’s Head in the tyre business has unveiled the company’s midterm vision through 2025.
This plan is for the company to achieve a wider market, from local to global and to enter more market segments and produce new products.
According to Mr. Setzer, the plan will be divided into three phases to finish. The first phase ran from 2011-2010 which has already been achieved by Conti. The second phase is from 2010-2015, the current phase that they are going through now which is on speeding the growth of the company in countries such as China, Russia, India and Brazil to build a strong technological bearing. While the last and third phase will run from 2016 to 2025 in which the company sets as the phase to expand its market share in the global sector to become amongst the top three top manufacturers all over the world.
Mr. Setzer also said that choosing market and location segments that will provide the company with more profits and growth is more important that being on the top three tyre makers.
In the present, Conti has 17 facilities in 15 various countries but the headquarters as in Europe and US.
Included in the third phase of the expansion plan is the plan to build three facilities in Asia, three more in the US and one more in the Eastern Europe. (RJA)