Watch Live

Tweet TWEET

Continental Tire the Americas Plans to Invest $129 Million in Illinois Facility, Adding More than 100 Jobs

    Continental Tire the Americas Plans to Invest $129 Million in Illinois
                     Facility, Adding More than 100 Jobs

PR Newswire

MT. VERNON, Ill., Jan. 28, 2013

MT. VERNON, Ill., Jan. 28, 2013 /PRNewswire/ -- With dedicated employees, a
business-friendly community and success of previous ongoing expansions,
Continental Tire the Americas, LLC (CTA) announces plans to invest $129
million in its Mt. Vernon, Illinois tire facility and create more than 100 new
full-time jobs over the next three years. This announcement demonstrates
Continental's continued confidence in the Mt. Vernon facility and community.

(Photo: http://photos.prnewswire.com/prnh/20130128/DE48556 )

The driving forces behind this investment are an increased demand for
Continental and General brand tires, the need for better complexity management
in the plant and emerging technologies in tire production. The investment is
defined in three segments and supports Continental's comprehensive growth
strategy for its tire operations worldwide.

"Continental Tire the Americas continues to grow our business in the U.S. and
across the Americas," said Jochen Etzel, chief executive officer, Continental
Tire the Americas. "This investment will support our efforts to provide an
outstanding line-up of passenger, light truck and commercial vehicle tires for
our customers."

Commercial Vehicle Tire benefits from $95 million investment and increased
capacity

With a volume of almost $95 million, the largest portion of this investment is
the expansion of the Commercial Vehicle Tire (CVT) production area, which will
increase production to an annual volume of more than 3 million truck tires
when completed. Included in this investment is a new mixer to support the
additional tire production and the introduction of equipment for emerging tire
technologies, including wide base truck tires. The CVT investment supports the
addition of more than 80 new full-time positions and is expected to be
completed in mid-2015.

"This investment will help us continue to produce some of the most
technologically advanced commercial vehicle tires on the market, and also
addresses our growth in the region," said Paul Williams, executive vice
president, Truck Tires – the Americas. "Our research and development engineers
for the Americas, working at our Truck Tire Technology Center in Mt. Vernon,
have developed tires and technologies for a complete lifecycle solution that
begins with excellence in new tire production. In turn, our customers have
responded with increased demand for our tires."

"With the investment in the Mt. Vernon CVT production area, we are adding
volume to support the current market, enhancing our capabilities for advanced
technologies and increasing our ability to anticipate the market demands of
the future. This investment is further commitment to Continental's strategy
for growth in the Americas," Williams said.

Additional investments for technology and warehouse

Two additional segments will create a total investment of $34 million,
encompassing technology and equipment for the mixing building, and a warehouse
expansion. These investments bring with them more than 30 new full-time jobs
and are expected to be complete during 2014.

Details about the Mt. Vernon facility

Employment at the plant has grown as a result of the most recent Passenger and
Light Truck tire expansion, announced on May 12, 2011. That expansion brought
nearly 450 new full-time positions to the Mt. Vernon area. To date,
Continental has hired approximately 350 people, and the hiring process is
ongoing.

"We fight for investments and expansions and are excited to make this
announcement today," said Benny Harmse, Continental Tire Mt. Vernon plant
manager. "Our employees and the Mt. Vernon community make our continued
success possible and we hope these investments demonstrate our appreciation
and dedication to them."

With preliminary sales of €32.7 billion in 2012, Continental is among the
leading automotive suppliers worldwide. As a supplier of brake systems,
systems and components for powertrains and chassis, instrumentation,
infotainment solutions, vehicle electronics, tires, and technical elastomers,
Continental contributes to enhanced driving safety and global climate
protection. Continental is also an expert partner in networked automobile
communication. Continental currently has more than 170,000 employees in 46
countries.

As one of the world's leading tire manufacturers, with more than 41,000
employees, the Tire Division achieved cumulative sales of more than
€8.8billion in 2011. Today, the division has 22 production and development
locations worldwide. The broad product range and continuous investments in
Research and Development make a major contribution to cost-effective and
ecologically efficient mobility.

Continental's Tire Division is an Official Sponsor of the German DFB Cup, 2014
FIFA World Cup™ in Brazil and the UEFA EURO 2016™ in France.

Media Database: http://mediacenter.conti-online.com

Continental Passenger & Light Truck Tires Website: www.continentaltire.com

Continental Truck Tires Website: www.continental-truck.com

SOURCE Continental

Website: http://www.continentaltire.com
Contact: Kathryn Blackwell, Vice President, Communications and Marketing,
NAFTA Region, Continental Automotive, 001 248-393-6593, Fax: 001 248-393-5227,
Kathryn.Blackwell@continental-corporation.com
 
Press spacebar to pause and continue. Press esc to stop.