Local
Tire plant's company changes names
By TESA CULLI
tesa.culli@register-news.com
MT. VERNON — Continental Tire North America, Inc. has changed its name.
The new name of the company is Continental Tire the Americas, LLC. The name change took effect on Jan. 31.
“Continental Tire of the Americas remains the same company with the name change being more of a legal formality,” states information from Keith Mackey, director of purchasing for CTA. “From an operational standpoint, it will be business as usual.”
Mackey, who is based in Fort Mill, S.C., said the company is legally domiciled in Ohio, a state that allows the conversion from an incorporated business to a limited liability corporation through a name change.
Under business law, both a corporation and a limited liability corporation limits the liability to its owners. However, an LLC is taxed as a partnership or sole proprietorship, but can choose to be taxed as a corporation. By changing the taxing, an LLC can pass all its income and losses through to its owners. As an LLC, the company becomes an unincorporated business, which is a cross between a corporation and a partnership.
Mackey said under the name change, CTA will retain the rights, interests, duties and obligations of CTNA under existing contracts.
The change affects locations in Mt. Vernon; Barnesville, Ga.; Charlotte, N.C.; Lockbourne, Ohio; Fort Mill, S.C.; Redlands, Calif.; and Wilmer, Texas.
In 1991, the company was named General Tire, and at the beginning of 1995, the name of the company changed to Continental General Tire, Inc. It was in 2001 that the company renamed itself Continental Tire North America, Inc.
The CTA facility in Mt.Vernon is the largest employer for the city, with more than 2,300 permanent employees.
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