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Continental invests €13 Mn to expand specialty tires production in Sri Lanka
Continental, a global leader in tire manufacturing, announced today a significant expansion of its Specialty Tires production footprint in Sri Lanka.
The company is set to invest €13 million over the next three years to bolster local pre-production capabilities at its Kalatura plant, aiming to achieve self-sufficiency in material handling tire production. This move is geared towards optimizing the manufacturing process and reducing cross-country dependencies in the logistic supply chain.
Since its establishment in 2009, the Kalutara plant has been a key player in the production of industrial solid tires for forklifts and other material handling vehicles. With a focus on Press-on-Band tires and Super Elastic tires, the plant caters primarily to American, Asian, and select European markets.
Klaus Framenau, Head of Business Field Material Handling at Continental, emphasized the strategic importance of the Kalutara plant, stating, "Our Kalutara plant is an integral part of our global production network. The most recent investment decision is a testament to that. At Kalutara, we manufacture tailor-made specialty tire products for our customers worldwide."
The expansion project is expected to create around 200 additional jobs, further contributing to local employment and economic development in Sri Lanka. Customers are poised to benefit from improved product availability, thanks to the optimized supply chain resulting from this investment.
Continental's Specialty Tires business area encompasses a wide range of tire applications, including agricultural, earth-moving, and port vehicle tires, in addition to material handling, bicycle, motorcycle, and racing tires. The company also offers customized digital tire solutions aimed at enhancing customer efficiency and reducing operational costs sustainably.
Continental remains committed to advancing innovative technologies and sustainable practices across the entire tire value chain, from the procurement of sustainable materials to the recycling of end-of-life tires. The expansion of its manufacturing capabilities in Sri Lanka reflects the company's ongoing efforts to meet the evolving needs of its customers while aligning with its Vision 2030 strategy program.
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