Continental Tire North America Announces Name Change

Though it seems that the recession crippled the auto industry and everything related to it, that is not an universal truth. There are still some companies out there that managed to grow in these difficult economy.

One of the best examples of financial growth is Continental Tire North America, which has just announced a name change. The company’s new name clearly reflects its growth in both North and South America. The company known as Continental Tire North America is now Continental Tire the Americas LLC.

"We felt this name change was appropriate due to our growth in the key South American markets, as well as our improved market position in North America," said Matthias Schoenberg, Chief Executive Officer, Continental Tire the Americas. "It better reflects our current scope and our future focus on our business throughout the Americas region."

The name change came as a result of the company’s actions in 2009. The most important one has been the acquisition of a leading passenger, light truck and commercial tire company in Latin America, Compania Ecuatoriana del Caucho S.A. (ERCO). ERCO became an important part of the company, as the Ecuador-based tire producers improved Continental’s position in Latin America through its strong distribution network in Ecuador and the Andean region, which includes the countries of Chile, Peru, Bolivia, Columbia, Venezuela and Ecuador.

ERCO Group business is operated out of Ecuador and includes a tire plant in Cuenca, as well as associated operations including a rubber plantation, retreading plant, tire import businesses and various retail chains in the Andean region.

The name change will take effect immediately.