Continental to Invest $129 Million for Expansion of US-Tire Plant in Mount Vernon, Illinois
(PresseBox) - /USA, 28.01.2013 - .
- Investment is part of Continental's global growth strategy for its tire operations worldwide and its confidence in the Mount Vernon facility and community
- The investment in Mount Vernon facility totals more than $615 million since 2006
The international tire producer and automotive supplier Continental plans to invest $129 million to expand its Mount Vernon, Illinois (USA) tire facility. 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 its business in the U.S. and across the Americas," said Dr. 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."
The biggest portion in this investment series includes a $95 million expansion of the Commercial Vehicle Tire (CVT) production area. Upon completion of the CVT expansion, the Mount Vernon facility will have increased production to an annual volume of more than 3 million tires and add a total of more than 80 new full-time positions. "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 additional new full-time jobs and are expected to be complete during 2014.
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.
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.
Datum: 28.01.2013 - 15:07 Uhr
Sprache: Deutsch
News-ID 223527
Anzahl Zeichen: 2610
contact information:
Town:
Hannover/Germany
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 220 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Continental to Invest $129 Million for Expansion of US-Tire Plant in Mount Vernon, Illinois"
steht unter der journalistisch-redaktionellen Verantwortung von
Continental Reifen Deutschland GmbH (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
