More on CTNA's recent name change
Continental Tire North America Inc.'s name change to Continental Tire the Americas LLC "better reflects the growth of the tiremaker in both North and South America," according to Continental AG officials.
"We felt this name change was appropriate due to our growth in key South American markets, as well as our improved market position in North America," says Matthias Schoenberg, CEO of Continental Tire the Americas.
"It better reflects our current scope and our future focus on our business throughout the Americas region."
One of the key actions that led to the name change was Continental's 2009 acquisition of Compania Ecuatoriana del Caucho S.A., or ERCO, a leading tire company based in Ecuador.
The acquisition gave Continental "a significantly improved competitive position in Latin America through ERCO's strong distribution network in Ecuador and the Andean region, which includes the countries of Chile, Peru, Bolivia, Columbia, Venezuela and Ecuador."