Mount Vernon, Illinois - Continental Tire North America, Inc. (CTNA) today announced approximately $78 million (â‚¬58 million) in new investments for its Mt. Vernon facility. These new investments, said Conti, will significantly expand CTNA's commercial operations and regionalise the company's commercial tyre production to better meet market demand in the United States.
The $78 million investment includes state-of-the-art tyre building and storage equipment for commercial vehicle tyres and more than 14 000 m2 of expanded building space to house the new equipment.
Construction on the space and installation of the equipment will begin immediately, and the process is expected to be complete by the end of 2008. The expansion will equip Mt. Vernon to serve the majority of the US commercial market. In addition, by producing more commercial tyres in the Mt. Vernon facility, CTNA will free up global capacity in other regions including Europe and Asia, said the company in a press release.
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Press release from Conti