CTNA promises more than 500 new or expanded products, continued Mt. Vernon investment

Aug. 11, 2006

Continental Tire North America Inc. (CTNA) CEO and President Dr. Alan Hippe says the company will introduce more than 500 new or expanded tires over the next three years, including an extension of its CrossContact LX tire.

The initiative is part of a three-year plan to increase CTNA's product offerings and improve its product mix in the high performance and light truck tire segments.

CTNA also has detailed capital investment projects for its Mt. Vernon, Ill., plant, including the addition of a new distribution center, more funding for future projects, and upgrading and expansion of equipment.

Total investment in Mt. Vernon will range from $70 million to $100 million.

"Seven months ago, I made a promise... that if Mt. Vernon employees and the Mt. Vernon community would invest in CTNA’s future, the company would invest in theirs," says Hippe.