Continental Tire the Americas announced multimillion dollar investment in its ContiLifeCycle tread rubber plant in central Mexico.

The investment, which occurred a year earlier than the company anticipated, will double the space for the plant and add additional curing and finishing lines. Continental will now be able to cap more than 1.2 million tires a year.

The announcement was made by executive vice president Paul Williams at the Continental's annual meeting for its commercial vehicle tire unit in Bonita Springs, Fla. At the meeting, Williams addressed more than 150 dealers from across the country saying, "This expansion allows us to accommodate the growing need for retreaded truck tires in our current markets, and to comfortably expand as we reach even further across the Americas."

Williams also noted that another expansion is being planned for 2014. This expansion will add another curing and finishing line to the facility.