INTERNATIONAL tyre maker and automotive supplier Continental is investing US$129 million to expand its Mount Vernon tyre facility, to meet an increased demand for Continental and General brand tyres. The investment is defined in three segments and supports Continental’s comprehensive growth strategy for its tyre operations worldwide.
The firm says the investment will support efforts to provide a line-up of passenger, light truck and commercial vehicle tyres for our customers, with the biggest portion in this investment series a US$95 million expansion of the Commercial Vehicle Tyre production area. Upon completion of the CVT expansion, the Mount Vernon facility will have increased production to an annual volume of more than 3 million tyres and add a total of more than 80 new full-time positions.
Two additional segments will create a total investment of US$34 million, encompassing technology and equipment for the mixing building, and a warehouse expansion. These investments bring with them more than 30 additional new full-time jobs and are expected to be complete during 2014.(RJA)
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