Continental Tire the Americas will invest $129 million to increase capacity at its Mt. Vernon, Ill., tire manufacturing facility. The tiremaker estimates the addition will create more than 100 new full-time jobs over the next three years.
The investment will help meet increased demand for Continental and General brand tires, the need for better complexity management in the plant and emerging technologies in tire production, the tiremaker said.
“Continental Tire the Americas continues to grow our business in the U.S. and across the Americas,” said CEO Jochen Etzel. “This investment will support our efforts to provide an outstanding lineup of passenger, light truck and commercial vehicle tires for our customers.”
Roughly $95 million of the investment is earmarked for expansion of the Commercial Vehicle Tire production area, which will increase production to an annual volume of more than 3 million truck tires when completed. Included in the investment is a new mixer to support additional tire production and the introduction of equipment for emerging tire technologies, including wide base truck tires. The CVT investment, slated for completion in mid-2015, will add more than 80 new full-time positions.
The remaining $34 million will go toward technology and equipment for the mixing building, and a warehouse expansion. These investments will bring more than 30 new full-time jobs and are expected to be complete during 2014.
A recent passenger and light truck tire expansion at Mt. Vernon, announced in May 2011, already has added 350 full-time positions to the plant. From that investment, roughly 100 jobs will be added in the ongoing hiring process.
“We fight for investments and expansions and are excited to make this announcement today,” said Benny Harmse, 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.”
