The leading technology company Continental has today officially broken ground at the site of its new tire plant near Clinton, Mississippi. The ceremony, attended by federal, state and local governmental officials, marked the beginning of the construction process, which is expected to be completed in 2019.
Continental has committed for a long term investment totaling approximately $1.4 billion and employing 2,500 people when the plant reaches full capacity in the next decade. The new manufacturing facility will be located at a greenfield site in Hinds County off of Interstate 20, two miles from Clinton and 20 miles from Jackson. Continental expects to begin physical construction of the plant in 2018. The site is nearly 1,000 acres and is by size and location well suited for setting up a gradually growing tire plant. The production of commercial vehicle tires is planned to start by the end of 2019.
"Building this new facility in Mississippi is a critical part to our growth strategy for Continental Tire, known as Vision 2025," said Nikolai Setzer, member of Continental's Executive Board and head of Continental's global tire business worldwide. "This is the first new plant, globally, for the truck tire business in more than ten years. We are convinced that the state of Mississippi provides the best options for Continental to grow our tire business."
"The groundbreaking of Continental's new tire manufacturing plant in Central Mississippi marks a significant milestone in the development of the company's newest state-of-the-art facility. I congratulate everyone involved with this monumental project and look forward to the plant's progress," Governor Bryant said.
"This plant is a significant step in addressing our commitment to grow our commercial vehicle tire business in North America," said Paul Williams, Executive Vice President, commercial vehicle tire, the Americas. "We thank the state of Mississippi, Hinds County and the City of Clinton, the Mississippi Development Authority and Governor Bryant for his leadership in bringing us to the Jackson area, and we look forward to a strong business relationship for years to come."
Continental's business growth in commercial vehicle tires has consistently exceeded the market over the last five years and the company continues to see customer demand for its products -- both new truck and bus tires as well as retreads which are growing beyond the company's existing capacity.
Not including the planned investment in Mississippi, Continental has invested nearly $2.5 billion in the past decade for manufacturing, technology, facilities and product development to grow its tire business in the Americas. Part of this investment has been the expansion of Continental's tire plant in Mt. Vernon, IL and the new Sumter, SC facility.
Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2015, the corporation generated sales of €39.2 billion with its five divisions, Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental currently employs approximately 215,000 people in 55 countries.
The Tire Division currently has 24 production and development locations worldwide. The broad product range and continuous investments in R&D make a major contribution to cost-effective and ecologically efficient mobility. As one of the world's leading tire manufacturers with more than 47,000 employees, the Tire Division achieved sales of €9.8 billion in 2014.
Continental Commercial Vehicle Tires is one of the largest manufacturers of truck, bus and commercial specialty tires worldwide. The business unit is continuously developing from a pure tire manufacturer to a solution provider, offering a broad range of products, services and tire-related solutions.
Source : prnewswire.com