Mount Vernon, Illinois – Continental Tire North America Inc. (CTNA) has announced more than US$60 million in new investments for its facility in Mt. Vernon, Illinois over the next three years. The investments will significantly expand the company’s passenger and light truck tire operations, as well as commercial vehicle tire operations, and will add approximately 75 new jobs.
“The Mt. Vernon employees continue to step up to the plate and prove that they are competitive on a global level,” said Matthias Schoenberg, CEO of CTNA. “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 as high-performance and ultra-high-performance that provide higher added value to both Continental and its customers.”
More than US$40 million will be directed to passenger and light truck tire operations for new machinery, increasing annual capacity by approximately two million tires. The US$20 million in the commercial vehicle tire operations will allow Mt. Vernon to make and supply more tires for the Canadian and U.S. markets.