01/31/2012

• Tire plant singled out by “Exame” business magazine for first time as “Best Company” in Portugal, fifth consecutive time as “Best Chemical Company”
• Magazine cites increasing productivity, value creation and balanced financing
• Plant workforce of approximately 1,620 employees, 16 million tires manufactured in 2011

Hanover, 31 January 2012. The renowned Portuguese business magazine “Exame” has named the Continental tire plant “Best Company” of Portugal. The trade journalists cited the increasing productivity, high value creation and balanced financing of the Lousado Plant Company. The plant, located in the town of Lousado near Porto, received the coveted prize as the country’s “Best Company” for the first time and was named “Best Chemical Company” for the fifth time in a row. Continental has produced winter and summer tires for cars, SUVs, and vans in the plant since 1989. The Continental Lousado Plant is ranked as the fourth largest export company in Portugal.

The award as “Best Company” was presented by Portugal’s Secretary of State for Economy and Employment, Almeida Henriques, to plant manager Jose Neto on 17 January in a ceremony in Lisbon. In his acceptance speech, Neto pointed out Continental's increasing investments in the tire plant, the plant’s successful history as well as the exceptionally high flexibility of the workforce and the support of the Portuguese government, which made the Lousado tire plant’s success story possible.

 The tire plant in the small town of Lousado is the region’s most important employer. The plant has belonged to the Continental Corporation since 1989, at which time it had an annual output of some one million tires. It currently produces approximately16 million tires. The corporation has invested about €400 million in the plant since 1989. The plant at present has a workforce of 1,620 employees. Traditionally, the tires from Portugal are earmarked for the European market and the MENENA economic region (Mid and Near East, North Africa).