Continental Tire plans to invest 500 million U.S. dollars to build a new plant in the United States

Continental Tire announced that it will invest US$500 million in a new plant in Sumter County, South Carolina, to create approximately 1,600 new jobs for the local area.

Continental Tire expects that the first phase of the new plant will be completed in 2017, and the second phase will be completed in 2021. After the plant is completed, it will produce approximately 8 million tires per year for passenger cars and light trucks.

Continental Tire also stated that it will invest US$4 million to expand its headquarters in Lancaster County, adding 80 new employees.

Nikolai Setzer, member of the Continental Tire Executive Committee, said: “To meet the growing demand for the replacement tire market, we have been looking for opportunities to increase production capacity. We had already negotiated with the South Carolina government eight months ago.”