CHARLOTTE, N.C.-Continental Tire North America Inc. plans to move its corporate headquarters from Charlotte to nearby Lancaster County, S.C., in 2009.
Continental will invest about $11 million for the land and new 75,000-sq.-ft. facility in a business park. Construction is under way on the building, which will house a corporate work force of more than 300, according to Rick Holcomb, Continental´s legal counsel. Completion is expected in the first quarter of 2009.
The site will replace Continental´s present headquarters, which is housed in its one-time tire plant in Charlotte. The 1.7 million-sq.-ft. factory recently was sold for $29.4 million to Patriot Equities L.P., a Philadelphia developer.
Conti is leasing back about 600,000 square feet of the 40-year-old complex. It will continue to use the site for rubber mixing, research and development, and as a warehouse, where about 160 workers are employed, Holcomb said. The firm has made various lease arrangements at the plant.
The tire maker selected the new headquarters site after visiting other states and reviewing options, he said. South Carolina has a business-friendly climate, he said, and the facility is 12 miles from the Charlotte plant, making it an easy commute for employees.
Continental has two other facilities in South Carolina, a research and development operation in Columbia and a fuel injector manufacturing complex in Blythewood, according to Holcomb.
The Charlotte plant was once the firm´s primary U.S. tire manufacturing center. In July 2006, tire production was suspended at the site, and manufacturing was shifted to plants in Camacari, Brazil, and Mount Vernon, Ill.