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November 03, 2016 02:00 AM

Conti breaks ground on $1.4 billion Miss. tire plant

Bruce Meyer
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    PHoto by Continental Tire the Americas
    Continental executives and other dignitaries break ground on the tire maker's $1.4 billion commercial truck/bus tire plant in Clinton, Miss .Pictured from left to right are: Mississippi Representative Deborah Dixon; Speaker Philip Gunn; Lt. Governor Tate Reeves; Continental Executive Board Member Nikolai Setzer; Governor Phil Bryant; Congressman Bennie Th;ompson; Hinds County Board President Darrel McQuirter;, MDA Executive Director Glenn McCullough Jr. and Continental Executive Vice President Paul Williams.

    CLINTON, Miss. (Nov. 3, 2016) — Continental A.G. broke ground Nov. 3 on its $1.4 billion commercial truck/bus tire plant near Clinton.

    Several company executives and political dignitaries participated in the groundbreaking ceremony, including Mississippi Governor Phil Bryant and Continental's Nikolai Setzer, a member of Continental's executive board and head of Continental's global tire business worldwide.

    Production is planned to start by year-end 2019, Conti said, and employment is expected to reach 2,500 at full capacity, sometime in the 2020s. Continental said the investment is the largest in the firm's history and the second largest in Mississippi history.

    Nikolai Setzer, member of Continental's executive board and head of Continental's global tire business worldwide, shakes hands with Mississippi Governor Phil Bryant at the ground-breaking ceremony at Conti's $1.4 billion tire plant near Clinton, Miss.

    “The groundbreaking of Continental's new tire manufacturing plant in central Mississippi marks a significant milestone in the development of the company's newest state-of-the-art facility,” Mr. Bryant said. “I congratulate everyone involved with this monumental project and look forward to the plant's progress.”

    Continental's truck/bus tire market share in North America is estimated at roughly 7 to 8 percent, counting the Continental and General brands together.

    The Hinds County plant will be Conti's third in the U.S. and sixth in the Americas. It is Conti's first new plant for the truck tire market in more than a decade.

    The German tire maker is in the midst of a $500 million project to double capacity of car and light truck tires at its 3-year-old plant in Sumter, S.C., and it is wrapping up work at its Mount Vernon factory complex on a five-year, $224 million investment to raise capacity, including output of wide-base single truck tires.

    According to an Associated Press summary of financial assistance measures, state, regional and local governments are committing about $600 million for the project. The biggest single measure will be $263 million in bonds that the state and Hinds County has borrowed to cover purchasing the site and preparing it for construction.

    Conti also will be given franchise, property and income tax breaks valued at more than $300 million.

    The plant will include a training center, customer training center and customer showcase facility. Continental will relocate its technology and warranty center from Mount Vernon to the Clinton facility.

    __________________________________________

    This report originally appeared on rubbernews.com, the web site of Rubber & Plastics News, an Akron-based sister publication of Tire Business.

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