Recently, Hannover, Germany ContiTech AG acquired China Taizhou Fu Poly Tape Manufacturing Co., Ltd., to further expand in China ContiTech drive belts business. Currently, ContiTech operates more than 10 factories in China and employs approximately 2,500 people.
Taizhou Fuju Adhesive Tape Manufacturing Co., Ltd. was established in 1993. Currently, the production of transmission belts mainly supplies the automotive aftermarket and industrial markets. After taking over, ContiTech will use the newly completed 33,000 square meters plant as its production base. In the future, the base will be equipped with new machinery and equipment, while further expanding the production space. Taizhou Fuju Adhesive Tape Manufacturing Co., Ltd. is located in Sanmen County, Zhejiang Province. ContiTech is a global auto parts supplier, a subgroup of Continental Group, a tire manufacturer and industrial partner, who will take over about 100 employees from Poly.
“This acquisition helped ContiTech achieve faster growth in China,†said Heinz-Gerhard Wente, member of the Continental Group Executive Board and ContiTech CEO. “We have expanded our capacity in China in a very short period of time. Strengthen the power transmission group's strength.†Since the spring of 2014, ContiTech will produce triangular and multi-ribbed belts in Sanmen. The products will be used in the automotive market, automotive aftermarket and industrial applications. The new company is only 50 kilometers away from the ContiTech Ninghai plant. The Ninghai plant mainly produces automobiles and industrial belts. “The proximity of two production sites to each other creates a synergy effect,†said Konrad Müller, head of ContiTech's power transmission group, when adding another major benefit of the acquisition. “In the new production base, we will strictly follow Conti. Tektronix's quality standards carry out all production activities. We can guarantee faster delivery of more products to Chinese customers."
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