Continental Tire Announces a Name Change for North and South America Operations

FORT MILL, S.C., Feb. 9, 2010 -- Continental Tire North America today announced a name change that better reflects the growth of the tire maker in both North and South America. Previously known as Continental Tire North America, the new name for the Passenger and Light Truck and Commercial Vehicle Tire divisions in the region is now Continental Tire the Americas LLC.

"We felt this name change was appropriate due to our growth in the key South American markets, as well as our improved market position in North America," said Matthias Schoenberg, Chief Executive Officer, Continental Tire the Americas. "It better reflects our current scope and our future focus on our business throughout the Americas region."

One of the key actions in 2009 that led to the decision to modify the name was the acquisition of a leading passenger, light truck and commercial tire company in Latin America, Compania Ecuatoriana del Caucho S.A. (ERCO). The Ecuador-based company gives Continental a significantly improved competitive position in Latin America, through ERCO's strong distribution network in Ecuador and the Andean region, which includes the countries of Chile, Peru, Bolivia, Columbia, Venezuela and Ecuador. The ERCO Group is a vertically integrated tire business operated out of Ecuador and includes a tire plant in Cuenca, as well associated operations including a rubber plantation, retreading plant, tire import businesses and various retail chains in the Andean region.

The name change takes effect immediately.

With sales of approximately EUR24 billion in 2008, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes enhanced driving safety and global climate protection. Continental is also a competent partner in networked automobile communication. Continental currently employs approximately 134,000 at nearly 190 locations in 37 countries.