On October 18, 2010, the signing ceremony of the cooperation project between Continental ContiTech AG and Tianjin Xin Binhai Adhesive Tape Co., Ltd. was held.
Continental AG is one of the world's top 500 suppliers of brake systems, chassis components, automotive electronics, tires and rubber products. ContiTech AG is an independent subsidiary of Continental AG and a leading global manufacturer of non-tyre rubber and plastics technology. Xinhai Haibin Adhesive Tape Co., Ltd. is located in Xiaozhuang Village, Jingwu Town. It mainly produces rubber conveyor belts, covers an area of ​​47,000 square meters, and has a building area of ​​15,800 square meters. In 2009, it had a sales income of 120 million yuan and a profit and tax of 20 million yuan. RMB.
In May 2010, ContiTech AG signed an investment agreement with Tianjin Xinhaihai Adhesive Tape Co., Ltd. to implement the acquisition plan for the city's Xin Binhai Adhesive Tape Co., Ltd. In the first phase of the project, ContiTech AG invested 12 million euros in the acquisition and equipment transformation. It is scheduled to be put into operation in January 2011. It is expected that the sales revenue will reach 300 million yuan and the profit and tax will be 66 million yuan; the second phase is expected to invest 1,000 in 2012. Ten thousand euros are used to increase wire rope production lines and plant expansions. It is estimated that sales revenue will reach 500 million yuan and profits tax will be 110 million yuan.
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