Leading Tire Producer Continental Wants to Acquire Modi Tire Business in India

International automotive supplier and tire producer intends an important step in India.
Hanover/Delhi, April 18. The international automotive supplier and the world?s fourth largest tire manufacturer Continental has signed an agreement with Modi Rubber LTD. (MRL), for the acquisition of a 100% shareholding in Modi Tyres Company Limited (MTCL), a subsidiary of MRL. The completion of the transaction still depends on the fulfillment of several conditions.
After completion of the transaction, MTCL will become a fully owned subsidiary of Continental Corporation. The company will focus on local production and distribution of bias and radial truck/bus tires as well as radial passenger car tires for the Indian market.
This development underlines Continental?s commitment to the Indian market and is part of the company?s strategy to invest in growing markets in Asia for its core businesses.

Continental Contact:
Deepa Nair
Leiterin Kommunikation
Continental Indien
Telefon: +91 80 6611 5645
Fax: +91 080 6611 5115
Handy: +91 99161 03962

[email protected]
Dileep M
Adfactors PR Pvt Ltd
Tel: +91 080 41133062/64
Fax: +91 080 41133059
M: +91 9742272204
E-mail: [email protected]
Med en omsetning p? rundt 25,5 mrd euro i 2010, er Continental en av verdens st?rste leverand?rer til bilindustrien. Som leverand?r av blant annet bremsesystemer, chassis-komponenter, bilelektronikk, dekk, sikkerhetssystemer og tekniske slanger bidrar Continental til ?kt trygghet i trafikken samt global klimasikkerhet. Selskapet er ogs? en partner i fremtidens nettverkskommunikasjon mellom biler. Continental har 149.000 ansatte i 46 land.

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