MOUNT VERNON, Ill. (Aug. 11) — Continental Tire North America Inc. will increase the investment in its Mount Vernon facility by up to $30 million over the next three years to make the factory cost competitive.
In early 2005, it said it would invest between $60 million and $70 million in the plant. It has revised that figure to between $70 million and $100 million.
Several capital improvement projects are involved, including upgrading and expanding equipment in the plant and a new warehouse, the company said.
Conti is in the midst of restructuring and modernizing the Mount Vernon passenger and truck tire plant. The company broke ground on an addition to house a $17.8 million tandem mixer at the factory Feb. 17.
The company´s mixer will increase efficiency and productivity by conserving manpower, saving time and doubling production through high-quality proprietary technology, a spokeswoman said in March. It´s the only mixer of its kind in the U.S., she said.
The firm will have the capability of mixing about 1 million pounds of rubber per day, far surpassing existing capabilities.