Charlotte, North Carolina -- Continental Tire North America Inc. will relocate its headquarters' corporate staff next year to Lancaster County, South Carolina
The firm has had its headquarters in Charlotte since 1994.
Conti plans to relocate about 300 employees to the new office, a 75 000-sq.ft facility under construction in MacMillan Business Park, in Lancaster County, about 12 miles south of the existing headquarters. The tyre maker expects to spend about $11 million (Euro 7.4 million) to build the office, including land acquisition.
The company will keep about 160 workers at the Charlotte facility in rubber mixing and warehousing activities. The tyre maker recently sold the 40-year-old building-originally a tyre plant until production was phased out in 2006 - to a Philadelphia developer for $29.4 million and is leasing back about a third of the plant's 1.7 million sq.ft.
"The move to South Carolina is an important step in our overall growth strategy at Continental Tire," said Allan Hippe, president of the firm and chief financial officer of parent firm Continental AG. "We will be able to put CTNA in an enhanced competitive position and continue to invest in growing our business and our customer base."
"ContinentalÂ´s decision to locate hereÃ is another sign that our efforts to improve the economic soil conditions and enhance the state's business climate are working to attract new investment and increase job opportunities throughout South Carolina," said Governor Mark Sanford in a statement.
From Rubber and Plastics News (A Crain publication)