Hanover, Germany – Continental AG has taken over the its long-term supplier of components for tire-assembly machines, VÚK spol. s.r.o, based in Otrokovice, Czech Republic. Terms of the deal were not disclosed,
With the acquisition, Continental expects to strengthen its presence in Otrokovice, where the group’s largest tire plant is also located.
In a 9 July statement, the tire maker said the new unit would help drive forward its development and production of tire assembly machines.
The purchase, it added, will both expand Continental’s portfolio and give it…