GERMAN automotive supplier Continental has opened a S$29.7 million extension building to its research and development (R&D) centre in Singapore.
Spanning 5,000 square metres, the new extension building at Boon Keng Road will house R&D and administrative offices from four of its business units from its interior division. It will accommodate about 450 staff.
Eelco Spoelder, chairman of Continental Automotive Singapore, said: "With the extension of our R&D capacities in Singapore, it is evident that Continental is sending a strong signal to the automotive industry on our serious commitment to expand, and our strong support for the interior division's growth strategy in Asia. Interior is constantly striving to increase our sales in Asia. The opening of our new, large-scale development site in Singapore is a clear sign of our commitment to local development and production."
Last year, Continental's sales in Asia grew to about 6.4 billion euros (S$10.4 billion).
In Asia, the firm has opened as many as 29 R&D centres, with its Singapore subsidiary being among its three biggest R&D centres in Asia.
According to Continental Singapore's managing director Lo Kien Foh, its headcount in Singapore has expanded from about 650 in July 2012 to over 900 currently. It plans to grow further to over 1,300 within the next four years, he highlighted.
"Continental's expansion is testament to Singapore's talented engineering workforce and conducive business environment," added Lim Kok Kiang, assistant managing director of the Economic Development Board. "We are pleased that Singapore continues to be an ideal location for Continental to develop new products and systems for Asia and beyond."