German automotive group Continental persuaded to expand investment in Thailand

BANGKOK, Oct 7 (TNA) -- Deputy Prime Minister Somkid Jatusripitak has persuaded senior executives of Continental AG, a leading German automotive manufacturing firm specialising in tyre and several auto parts, to expand investment in Thailand to enable the kingdom to become regional auto production hub. Mr Somkid, responsible for the Thai government’s economic affairs, and his delegates are now visiting France and Germany with an objective to enlarge French and German investment in Thailand. On Friday, he held talks with senior executives of Continental which now produces vehicle tyres through a ‘High Performance Technology Centre’, based in Germany, as Thailand is now a major producer of natural rubber in the world. Presently, the Centre with innovative technology has an annual production capacity of 350,000 tyres and employs about 80 experienced chemical and physic scientists. Its total investment is 1.7 billion euros. (TNA)