Manfred Wennemer, Vorstandsvorsitzender CONTINENTAL AG

Conti to sell shares in Pakistani tire company

Hanover, Germany – Continental AG has confirmed that it is selling its shares in Pakistan’s General Tyre and Rubber Co. (GTR).

In a statement provided to ERJ, the Germany tire-maker said that Continental Global Holding Netherlands B.V (CGHN) was selling its 9.78% shares in the Pakistani venture.

Conti did not give any reason for the divestment.

Based in Karachi, Pakistan, GTR produces 1.2 million tires a year which inclue passenger car, light vehicles, farm and two-wheler tires.

According to local reports, Continental’s decision will not affect the continuation of…

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