The convergence of the high-performance street tire and race tire industries took a significant step forward today as Continental Tire and Hoosier Racing Tire announced a strategic alliance based on a shared vision for motorsports marketing and race proven technology. By engaging the companies at the marketing, business and R&D levels, the alliance will allow both companies to drive new growth prospects, technologies, and have the potential to ultimately transform a variety of motorsports platforms.

"This partnership will open the door for endless opportunities, which will benefit both companies," said Bill Caldwell, Vice President of Sales and Marketing, Continental Tire.

"The combination of Continental's expertise is in performance street tires, and Hoosier's industry leading technology in race tire development will allow both companies to compete in new market segments."

"The exchange of technologies will result in increased levels of performance in future product developments for both companies," said Joerg Burfien, Director of R&D - Americas, Continental Tire.

The alliance will consist of Continental and Hoosier being strategic partners for advanced performance solutions and motorsports integration. A team of industry veterans has been formed and will be the driving force behind the collaborative marketing, product development and implementation process. Both companies will invest substantially into resources for the marketing, business development and delivery of specific products.

"We are working together because we believe it benefits both organizations by affording opportunities for deep collaboration in marketing and business development, allowing us to rapidly deliver high quality products to consumers who are simply demanding the best tire for their investment," said Dennis Sherman, Vice President Sales and Marketing, Hoosier Racing Tire. "Together we are better."

With sales exceeding €24 billion in 2008, the Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. The corporation currently employs approximately 133,000 at nearly 190 locations in 35 countries.

Hoosier is the largest race tire manufacturer in the world. Hoosier manufactures and distributes a complete line of racing tires for most types of racing, including road, drag, oval, and kart applications. For additional information on Hoosier Racing Tire and its line of high performance racing tires, log on to www.hoosiertire.com.