ContiTech sells sealing systems business to SaarGummi buyers

By Liz White, ERJ staff

Hanover, Germany-ContiTech AG announced 14 Aug that it is to sell its automotive sealing systems business operation by 1 Oct 2005, following earlier revelations that it was in talks to divest this unit.

ContiTech decided to sell because it lacks sufficient “strategic clout” to compete effectively in the automotive sealing components market. “The sale was prompted by our strategically weak position,” admitted Claus Peter Spille, general manager of ContiTech Sealing Systems in Hanover, in a company statement.

No price for the…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with