$25 million investment expected to create 150 new jobs
COLUMBIA, S.C. – June 29, 2011 – Gov. Nikki Haley, the South Carolina Department of Commerce, Berkeley County and the Charleston Regional Development Alliance today announced that Tire International (TRIE: OTC Markets), a tire recycler and maker of rubber products, is establishing a new recycling and manufacturing facility in Berkeley County. The $25 million investment is expected to generate 150 new jobs.Tire International has established a third-generation recycling and manufacturing operation in Moncks Corner. The company is currently in the process of upgrading its facility there to prepare for full operations. The company previously based its tire recycling and rubber manufacturing work in China, but now is bringing all of those operations to Berkeley County.Gov. Nikki Haley said, “Tire International’s $25 million job-creating investment in the Lowcountry – that is expected to generate as many as 1,000 jobs – is something we’re going to celebrate. Our administration works day in and day out to make South Carolina the most attractive in the country for business development, and bring jobs to every part of our state, and we’re excited to see that work pay off for Berkeley County.”“South Carolina continues to have a strong reputation in the materials recycling sector. Tire International’s decision to locate in Berkeley County will further bolster that reputation. The company’s decision to locate its operations in South Carolina is another indication that our state’s business-friendly climate, skilled workforce and exceptional market access are working to attract new investment and international companies,” said Bobby Hitt, Secretary of Commerce.Tire International CFO and Director Marty Sergi said, “We are delighted to start up operations in the business-friendly environment of South Carolina and Berkeley County. This was the key in our decision to not only expand our operations but also to move our production operations from China to South Carolina. In addition, the existing infrastructure of the facility has enabled us to commence operations quicker than we could have done in any other location. The ability to have our raw material delivered by rail along with the proximity of the Charleston port will be critical to the success of our business.”Andy Acho, former worldwide director of environmental outreach and strategy for Ford Motor Co., also a director of Tire International, said, “It is no longer sufficient for a good company to meet consumer demands by just providing innovative products with excellent durability, quality and reliability. A company’s products must also be environmentally responsible. By incorporating recycled materials into their offerings, they not only meet consumer demand but also society’s goals. That’s what our company is all about.”At the plant, Tire International will recycle tires by breaking them down into raw materials and will produce finished consumer products including environmentally responsible and high quality commercial and residential flooring, artificial fields, playgrounds, landscaping materials and rubberized asphalt.Berkeley County Supervisor Dan Davis welcomed the company to Berkeley County. “We are excited another global company has chosen our community as its preferred place to do business. Tire International joins a growing list of international companies drawn to our region by a productive port, an integrated transportation system and a business-friendly environment. We look forward to their continued success,” Davis said.Charleston Regional Development Alliance Chairman Sean Bennett echoed that sentiment. “Tire International’s decision to locate in the Charleston region sends a strong message and further validates the trend of companies choosing to on-shore manufacturing operations in the United States. Our workforce is once again proving to be a key asset in our ability to attract businesses from around the world.”Tire International will be ramping up during the summer and fall and expects to have the plant fully operational by the end of the year. The company plans to begin hiring for the new positions at the end of September and will work with readySC during the hiring process. Anyone interested in job opportunities with the company should contact the Moncks Corner Workforce Center at 843-761-4400 at that time.Tire International is a publicly traded developmental stage company committed to clean green recycling technology and value added manufacturing. Through innovative process manufacturing, negative cost recycled raw materials and waste-to-value manufacturing into finely crafted products, Tire International plans to become a leader in third generation recycling, the newest American movement in fully integrated clean green recycled products. The company is committed to creating new jobs and finding new and improved ways to reduce extensive waste tire stockpiles. The company expects to become a leading North American manufacturer of finished products available for export and domestic consumption. Visit the company’s website at http://www.tireinternational.net. -###-