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Continental AG : Invests $129 Million in Illinois Tire Plant

01/28/2013 | 01:37pm US/Eastern
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("Continental AG Invests EUR129M In Illinois Tire Plant" published at 1448 GMT misstated the total investment value in the headline as well as the total investment value and breakdown of the investment value in the "MAIN FACTS" section, by referring to the values in euros. The values should have been denoted in dollars. The correct version follows.)

German automotive supplier Continental AG (CTTAY, CON.XE) said Monday it plans to invest in the expansion of its tire facility in Mount Vernon, Illinois, to meet increasing demand for its Continental and General brand tires.

MAIN FACTS:

-The investments will total 129 million dollars.

-Of the total investment, $95 million will be used for the expansion of the commercial vehicle tire production area, which will have a total annual production volume of more than 3 million tires.

-Furthermore, $34 million will be invested in technology and equipment for the mixing building of the facility and warehouse expansion.

-The expansion will create approximately 110 new full-time jobs altogether.

Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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