Mount Vernon, Illinois -- Continental Tire North America Inc. will invest up to $30 million (â‚¬23.5 million) over the next three years in its Mount Vernon facility to make the factory cost competitive.
The German tyremaker's US arm said several capital improvement projects were involved, including upgrading and expanding equipment in the plant and a new warehouse.
In early 2005, the company said it would invest between $60 million and $70 million in the plant but has revised that figure to between $70 million and $100 million.
Continental is in the midst of restructuring and modernising the Mount Vernon passenger and truck tyre plant.
It started construction on an addition to house a $17.8 million tandem mixer at the factory in Feb.
The company expects to have the capability of mixing about 1 million pounds (453600 kg) of rubber per day.
From Rubber & Plastics News (A Crain publication)