English
Continental Automotive Products Timisoara, Continental AG"s Romania tyre plant, posted a net profit of 68.5 million RON (19.4 million EUR) last year, down by 41% from 116 million RON (32 million EUR) in 2005, due to an increase in raw material prices and euro depreciation. Gross profit amounted to 81.6 million RON last year. Turnover rose by 4% to 816.2 million RON (231.8 million EUR), as compared with 786.6 million RON (217.2 million EUR) in 2005. The number of employees increased from 1,116 to 1,186 last year.
Continental AG estimates the plant will manufacture approximately 13 million tyres this year, as compared with 11 million in 2006. Continental AG officials said the company would invest some 10-15 million EUR in the Timisoara plant.
The company manufactures tyres for carmakers such as Dacia-Renault Group, Fiat, Ford, General Motors, Honda, Hyundai, Nissan, Suzuki, Toyota and Volkswagen.
Continental AG owns six plants in Romania - two in Timisoara, two in Sibiu, one in Carei and one in Arad. The company also has an engineering centre in Sibiu, a joint-venture with Pirelli in Slatina, where it manufactures metallic cord, and a tyre distribution centre in Sacalaz, Timis county.
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