28 January 2013

Continental Tire the Americas to invest $129 million and create 100 new jobs in Illinois

- $95 million expansion of Commercial Vehicle Tires production area   
- $34 million investment in Technology and Warehouse expansion
- More than $615 million investment in Mt. Vernon facility since 2006 

Mt. Vernon, Ill. – 28 January 2013 – Continental Tire the Americas, LLC (CTA) announced 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. 

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.” 

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. 

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. 

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. 

Source: Continental