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Author:
Bogdan Alecu
Continental Automotive Products, the Continental tire company in Timisoara, bought the former UMT industrial platform from Timisoara to optimize the logistics and storage costs of finished products
The Continental Group acquired 32 hectares of UMT and Prompt, land representing the majority of the old UMT industrial platform in Timisoara
According to ZF estimates, the value of the transaction amounts to more than 60 million euros , considering an average price of 200 euros per square meter of land concerned. This land acquisition will help the company increase its finished product storage capacity and optimize its overall logistics costs.
Most of the older industrial platforms were acquired by real estate developers who have developed commercial, office or residential projects.
For 18 years of activity in Continental, Continental has invested more than 460 mil. euro in its tire factory and created more than 2,500 jobs. Continental Tires Timişoara has produced and delivered to date 200 million tires to customers in Europe and worldwide.
The largest car manufacturer in Romania has approached 20,000 employees and registered Business Growth in 2017 of at least 15%, more than 3 billion euros
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Article published in the paper edition of the economic newspaper of 26.07.2018
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