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Continental jumps in 10,000 million baht to produce tyres in Thailand

throws 10,000 million into producing tyres in Thailand

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Mr. Nicholas Brown, CEO / Managing Director of Continental Automotive Group Co. ,

Ltd. , producer and distributor of car / sedan tyres, gave a press conference, saying that the

company has planned/ is planning to construct / put / set a new tyre production plant in the Asia

Pacific region in Rayong. This is to penetrate the market in this region and respond to / satisfy /

fulfill / follow the rising / increasing / soaring demands / needs of customers. The company will

set aside a budget of 1 billion baht to set (up) / make a penetrating plan systematically according

to the companys 2022 Vision plan. It is forecast that the companys production capacity will

have been 4 million tyres / units a / per year by 2022. Mr. Brown added Rayong is equipped /

ready in many ways / in regard to many factors - /; i.e./; that is, the location, approximately 140

km ( away) from ( near) Bangkok, basic infrastructure and workforce/ workers / labor. At

present, in this region, the company has production plants in 4 countries: China, India, Sri Lanka

and Malaysia.

The sedan / car tire department of the company is increasing / extending the / its

production capacity and also researching/ doing research/ conducting to develop / increase the

tire quality.

In the last budget year, the companys total sales (value) was over 5 billion baht, increasing

by 400 million baht from the same / corresponding period (of) the previous year (by) 400 million

baht. It is estimated that, by the end of the last quarter of this year, the company s performance

will have increased to 2 billion baht, a profit of 20% as targeted, or 35% of the market share. The

company will negotiate with its business alliances to expand / increase its distribution channels

and hopes to possess a market share of at least 40% within 2 years.