Conti wins control of Turkish tyre distributor

ERJ staff report (DS)

Hanover, Germany -- Following approvals given by the Turkish antitrust authorities, Continental AG has acquired 89.66 percent of the shares in Oltas SPA headquartered in Istanbul, Turkey.

Oltas is Continental's exclusive tyre distributor for the passenger car and commercial vehicle tyre brands Continental, Uniroyal and Barum in Turkey. "We are glad about this quick approval process. Now we will improve our market position for commercial vehicle and passenger car tyres in Turkey and in Eastern Europe overall significantly step by step," said Dr. Alan Hippe, Executive Board member responsible for the Passenger Car Tyre division who was elected as deputy CEO for Continental AG recently.

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Press release from Conti