Retail

New Continental tire plant in Sumter, S.C., will cost one-half billion dollars

Posted on October 6, 2011
“This important announcement is part of Continental’s growth strategy  worldwide and, especially in this case, for the U.S. market,” says  Continental’s Nikolai Setzer.

“This important announcement is part of Continental’s growth strategy worldwide and, especially in this case, for the U.S. market,” says Continental’s Nikolai Setzer.

For days prior to the announcement, North and South Carolina news outlets proclaimed that Continental Tire the Americas LLC’s new consumer tire plant was being built in their respective states. The South Carolina media was right.

Continental will invest more than $500 million to build a tire plant in Sumter, S.C., to meet growing demand from its aftermarket and original equipment customers. When completed, the facility will have the capacity to produce 8 million units annually. In addition, it will employ more than 1,600 people.

* The first phase of production will be completed in 2017, with a plant capacity of 5 million passenger and light truck tires.The facility will be able to begin producing tires in 2013.

* The second phase is expected to be completed by 2021. By then, the plant’s capacity will be increased to 8 million tires per year.

The announcement was made at a news conference today in Sumter at the Opera House. Nikki Haley, South Carolina’s governor; Bobby Hitt, secretary of commerce; and Greg Thompson, chairman of the Sumter Development Board, joined Nikolai Setzer, member of Continental’s executive board and head of Continental’s global tire business, and Jochen Etzel, CEO of Continental Tire the Americas, in sharing the good news.

“Increasing demand for Continental and General brand passenger and light truck tires in the U.S., as well as the improved business results for CTA, has made this significant investment possible,” said Setzer. “On behalf of the 160,000 employees of Continental worldwide, I would like to offer our sincere thanks to Governor Haley, the state of South Carolina, the Port Authority, the city of Sumter and Sumter County.”

The new manufacturing facility will be located at a Greenfield site off of U.S. Highway 521 in Sumter County.

“Continental is a world-class company, and it is truly exciting that they have chosen South Carolina for this new $500 million investment that will create nearly 1,700 new jobs. This announcement is a big win for our state,” said Governor Haley.

“Today’s announcement would not have been possible without the strong support of the state of South Carolina, Governor Haley and Secretary Hitt,” said Etzel. “South Carolina offered us the most compelling business climate that allows us to create these jobs with competitive pay and benefits for the people of this great state.”

Continental has announced manufacturing investments dedicated to increasing its tire production capacity in the Americas region of nearly $1 billion in 2011 (see "Continental to expand production and Illinois plant").

“In addition to the Greenfield announcement, we are also announcing an investment of more than $4 million in our Lancaster County, S.C. headquarters to help meet the needs of our growing workforce,” added Etzel.

Related Topics: Continental financials, plant capacity

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