ContiTech Vibration Control GmbH (Germany, a division of Continental AG, Germany) and Chinese automotive supplier Ningbo Jiebao (China) have signed a second joint venture manufacturing agreement, this time to produce bearings and seals in China.

The venture will be located in Ninghai, south of Shanghai, in a new plant. It will manufacture spring strut bearings and seals, strictly for automakers in China. The company has no plans to export product back to German automakers or replace any existing manufacturing operations.


ContiTech holds 60% interest and management control, while Ningbo Jiebao holds the remaining 40%.

ContiTech's Kai-Uwe Fruhaufand Ningbo Jiebao's Xing Bao Lu
ContiTech said in moving more sourcing to China it, "is facing up to the auto industry's globalization demands."

The new venture complements ContiTech-Jiebao Power Transmission Systems Ltd., the existing 130-employee joint venture located in Nanaghai since 2004. Power Transmission Systems manufactures multiple V-rib and rubber timing belts for the Chinese auto industry, and timing belts for general industrial applications. The new business will be located under the same roof until construction of its new plant nearby is complete.

Kai-Uwe Fruhauf, GM of ContiTech Vibration Control, said, "This joint venture strengthens our international competitive position by expanding in the Asian market. This enables us to create more jobs in China and ensure the future of our plants in Europe."

By 2006, the venture is forecast to invest approximately

Other News:
Suzhou Hi-Tech Development Zone--the Future Paradise for Auto Industry
ContiTech and Ningbo Jiebao Form Bearing Production Joint Venture in China(pic)
Two news about Nachi
Tata Bearings Reports Record Production
Programme aims for next-generation bearings
Surface treatments extend bearing life
QC Brand of Wanxiang Group was Selected as China's Famous Brand
The First Retraining Course of Bearing Engineer Ended