Continental Expected To Build New $1.4 Billion Plant In Mississippi
Continental AG will reportedly open a new bus/truck tire plant in Mississippi, as the company believes that demand for commercial tire products will continue to grow in North America.
ModernTireDealer reports that the new plant will be built in Hinds County, 20 miles west of Jackson along Interstate 20, on a site of approximately 1,000 acres, which will be purchased by Mississippi and subsidize part of the facility's construction.
"The project in Hinds County, Mississippi, is part of our global growth strategy. In a first step the new plant is especially addressing our commitment to grow our commercial vehicle tire business in North America", said the firm's executive board member for the tire business, Nikolai Setzer.
The new Continental plant is part of a long-term investment, totaling approximately $1.4 billion, and the facility will employ roughly 2,500 people when it will reach full capacity next decade. Construction is expected to begin in 2018, after the company will begin site development this year, and production of commercial vehicle tires should start by the end of 2019.
Conti apparently chose the state of Mississippi thanks to "an outstanding business climate" and this is where the company's third plant in the United States will be, after the Sumter, S.C, which is going through an expansion, and the Mt Vernon, III.