Continental has announced an investment of $US78m in its US plant in Mt Vernon, Illinois.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“This major investment will enable us to expand local production of commercial vehicle tyres and will help us to serve the US market even better than before. Completion of the expansion project is scheduled for the end of 2008, and by then 90% of the tyres sold by Continental Tyre North America (CTNA) in the USA will stem from US production”, said Hans-Joachim Nikolin, Continental’s executive board member in charge of commercial vehicle tyre operations, on Friday in Hanover.
“This expansion of US manufacturing capacity is intended not only to address the growing demand for our products. At the same time, we are freeing up capacity at sites in other regions, especially Europe and Asia, where output was partly used to cover the needs of the US market,” added Nikolin.
Matthias Schönberg, CTNA CEO, said Continental’s two tyre divisions – passenger and light truck tyres, and commercial vehicle tyres – had previously announced a US$70 – 100m investment for Mt. Vernon “The $78 million is on top of that, bringing total investment by 2009 to more than $160m.”
