Conti takes full ownership of Sri Lankan tire maker

Kalutara, Sri Lanka – Continental AG has recently acquired full ownership of Sri Lankan solid tire maker Eu-Retec (Pvt) Ltd, the German group has confirmed to ERJ.

The joint venture, previously 51% owned by Continental, has been producing solid tires in Kalutara since 2009, a company spokeswoman said in a written statement to ERJ.

Deshamanya Anurath Abeyratne, founder and chairman of SPA Group of companies, was the 49% owner and managing director of Eu-Retec (Pvt) Ltd.

The acquisition is part of Continental‘s growth strategy ‘Vision 2025’ and group…

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