Type
Business expansion
Country
Portugal
Region
Continente; Norte; Ave
Location of affected unit(s)
Famalicão
Sector
Manufacturing
Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products
Manufacture Of Rubber And Plastic Products
22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres

100 jobs
Number of planned job creations
Job creation
Announcement Date
11 June 2019
Employment effect (start)
11 June 2019
Foreseen end date

Description

German tyre manufacturer Continental is expanding its production facilities in Lousado, increasing capacity to produce earth-moving and port tyres. It represents an investment of €100 million and will add 100 new jobs to the 2,150 already operating in Portugal. Continental has already invested €820 million in Portugal since 1990 and now constitutes one of the five largest Portuguese exporters. According to the company's Executive Board, 'both the port and earth-moving segments are among the key growth areas in the commercial specialty tyre market', signalling that this investment reflects the company's commitment to the establishment.


Sources

Citation

Eurofound (2019), Continental, Business expansion in Portugal, factsheet number 97950, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97950.