Conti to drop Goodyear Engineered Products brand

Hanover, Germany – With the conclusion of a deal to purchase Veyance Technologies, products sold under the Goodyear Engineered Products brand will be rebranded either as Continental or Contitech, a ContiTech spokeswoman told ERJ.

ContiTech, part of Continental AG, concluded its €1.4 billion deal to purchase the US-based supplier of conveyor belts and other industrial products, on 29 Jan.

“Now, after closing the deal, ContiTech will only be able to use the Goodyear [Engineered Products] brand for a very limited period,” Antje Lewe said in a written response to ERJ.

Goodyear Engineered Products. was acquired by US-based private equity fund the Carlyle Group LP from Goodyear Tire & Rubber Co. in 2007. Carlyle renamed the company Veyance Technologies Inc., while retaining the Goodyear Engineered Products brand.

According to the ContiTech spokeswoman,  the rebranding to either Continental or ContiTech is not a concern for Continental.

“This is not a problem as both Continental as a corporate brand and ContiTech as a product brand are well known in the relevant markets and among the relevant customers,” Lewe concluded.