FORT MILL, S.C. (Feb. 9, 2010) — Continental Tire North America Inc. has changed its name and legal status to Continental Tire The Americas L.L.C. to reflect the unit's increased responsibility for both North and South America.
“We felt this name change was appropriate due to our growth in the key South American markets as well as our improved position in North America,” said 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.”
The change took effect Jan. 31.
Last year parent Continental A.G. increased the firm's presence in South America by taking majority control of Compania Ecuatoriana del Caucho S.A. (Erco) in Cuenca, Ecuador.
Erco—established in 1962 as a subsidiary of General Tire & Rubber Co.—sells Continental-, General- and Barum-brand tires in Ecuador and throughout the Andean region, which includes Bolivia, Chile, Columbia, Peru and Venezuela.
Besides a tire plant in Cuenca, Erco operates a rubber plantation and a retreading plant in Ecuador and a number of retail chains throughout the region, generating about $120 million in annual sales.
Conti also has a tire plant and sales/distribution activities in Brazil.