Conti buys outstanding shares of its Malaysian tyre business

ERJ staff report (LMH)

Kuala Lumpur -- Continental has acquired the outstanding 30 percent of the shares of Continental Sime Tyre Sdn. Bhd. from its joint venture partner Sime Darby Allied Products Berhad.

Continental Sime Tyre Sdn. Bhd. has now become a fully owned subsidiary of Continental Corporation and will be renamed as Continental Tyre Malaysia Sdn. Bhd. The transaction underlines the long term interest and the commitment of Continental to the Asia Pacific Region, the company said in a 14 May news release.

Continental operates two tyre manufacturing facilities in Malaysia. One is located in Petaling Jaya where truck and bus radial as well as OTR tyres for agricultural and industrial use are produced. The other facility is located in Alor Star where the company manufactures several brands of passenger and light truck radial tyres as well as motorcycle tyres. The tyre division in Malaysia employs some 2500 people.

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Press release from Continental