Conti buys Finnish tyre spike maker

ERJ staff report (DS)

Hanover, Germany -- Continental AG acquired all the assets of the Finnish spike manufacturer Tikka Spikes Oy mid-September. Thge company said the relevant anti-trust authorities have already approved the deal.

Tikka Spikes has a plant in Finland - in the community Gemeinde Jyväskylä in Tikkakoski - and a sales office in Espoo as well as a plant in St. Petersburg, Russia, through its Russian associated company OOO Tikka. In 2007, the Tikka workforce of 120 employees achieved sales of approximately 15 million euros.

"We are pleased that, with Tikka's know-how, we can further strengthen our leading position in the winter tire business in Scandinavia and Russia in particular," said Lothar Salokat, head of the tire plant in Korbach, Germany. Continental also intends to continue the business relations of Tikka Spikes with other tyre manufacturers.

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Press release from Continental