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Plastics and rubber manufacturer ContiTech plans to invest $65 million to expand its campus in Southeast Iowa, state economic development officials announced.
The company’s U.S. subsidiary will build what officials said would be a “state-of-the-art” compounding center at the facility in Mount Pleasant, which will include production, warehouse and office space.
The project is expected to add 50 jobs. The company received a $1 million incentive package to support the expansion from the Iowa Economic Development Authority.
ContiTech, which makes belts, hoses, coated fabrics and air spring and anti-vibration systems, is expected to be spun off from its parent, automotive supply giant Continental, in the coming months.
