Increased impact in China

August 2010ContiTech AG has fully taken over its ContiTech-Jiebao Power Transmission Systems Ltd. joint venture.

ContiTech AG has fully taken over its ContiTech-Jiebao Power Transmission Systems Ltd. joint venture and intends to strengthen the manufacturing location in Ninghai, China. In future the company that produces automotive and industrial belts will be called ContiTech Power Transmission (Ninghai) Ltd. Previously, ContiTech held 60% of the joint venture and the Ningbo Jiebao Group 40%. “We see great potential in the Chinese market and are aiming for a clear structure there. The full takeover of the joint venture has taken us a step further towards that aim”, explains Karin Seid, head of commercial operations at the ContiTech Power Transmission Group.

The joint venture with the Ningbo Jiebao Group started in 1999 with the aim of establishing a local production facility. In 2002, the location was expanded further and production of belts for industrial, non-automotive applications started. Around 700,000 automotive and 200,000 industrial belts are produced each year in Ninghai. Currently there are 120 employees and the takeover is certain to mean new posts being created.