The Continental AG (in Germany commonly known as Conti) is today one of world's largest tire manufacturers. Most bicycle tire production is located in Korbach where tubular tires are still handmade. In the early years they were very successful (for example, in the years 1896 and 1897 they paid out a 55%-dividend!) and have grown from a plant with 250 employees in 1875 up to 13.000 in 1914. This rapid development originates from the prosperity of the bicycle industry, itself quickened by the invention of the pneumatic tire.