Continental Tire Invests $244M in Illinois Facility

Things are going well for the Continental Tire company, as it is currently facing increased demand for its passenger and light truck tires in North and South America, which led to the decision of investing $224 million in the Mt. Vernon plant in Illinois. This investment will bring with it the addition of some 444 new full-time jobs, to be filled within the next three years.

Of the $224 million, $171 million will be directed for new machinery and equipment, and $53 million will be directed for building and infrastructure.  The Mt. Vernon plant capacity will increase by nearly 4 million tires per year.

In addition, the commercial vehicle tire division is also increasing capacity in Mt. Vernon by 15 percent, bringing capacity to 3.15 million tires per year by December 2012. The first 5 percent increase has already been achieved.

"Including today's announcement, CTA has invested nearly $500 million in this facility since 2006 to increase production of passenger and commercial truck tires because our employees here have proven their dedication to successfully meeting the ongoing challenges in our industry," said Benny Harmse, vice president of manufacturing in Mt. Vernon. "This significant investment is a reflection of CTA's ongoing commitment to the city of Mt. Vernon and the state of Illinois and recognition of the superior work being done here by our highly skilled team."  

The additional 444 new full-time jobs will bring total plant employment to nearly 3,000 in the next three years. "Continental Tire the Americas is experiencing significant growth and demand for its tires throughout the region," said Matthias Schoenberg, CEO of Continental Tire the Americas. "Adding production capacity to meet this demand was essential.  And, the Mt. Vernon employees earned this investment as they continue to prove that they are competitive on a global level."