“The Mt. Vernon employees continue to step up to the plate and prove that they are competitive on a global level,” said CTNA CEO Matthias Schoenberg. “Today’s announcement is another big step forward for CTNA and for the Mt. Vernon facility, and one that will allow us to take our operation to an even higher level. The investment will allow for increased manufacturing flexibility, enabling us to adjust to increased market demand for replacement tires, particularly in categories such high-performance and ultra-high performance that provide higher added value to both Continental and its customers.”
Continental Tire North America’s CEO, Matthias Schoenberg, announces the investment of $60 million in the tiremaker’s Mt. Vernon, Ill., facility.
The most recent investments will significantly expand CTNA’s passenger/light truck and commercial vehicle tire operations. As a result of these investments, CTNA will also add approximately 75 new jobs in Mt. Vernon, the company’s only tire manufacturing plant in the U.S.
Roughly $40 million of the investments will be directed to passenger/light truck tire operations for new machinery and tooling, while about $20 million will be invested in Mt. Vernon’s medium truck tire operations, Schoenberg said.
The investment will increase capacity by approximately 2 million tires per year, as well as provide new and updated machinery and tooling to accommodate additional product brought in from Europe. As a result, Mt. Vernon will make and supply more tires for the Canadian and U.S. markets and continue to account for more than 90% of CTNA’s total medium truck tire production in the U.S., he said. (Tire Review/Akron)
