Continental AG
It was agreed not to disclose the purchase price of the factory.
(Photo: dpa)
Continental is also parting with a large part of its activities in Russia. The Dax group from Hanover announced on Monday that the factory for car tires in Kaluga, southwest of Moscow, had been sold to the Russian investor S8 Capital. The transaction has already been approved by the Russian authorities. The buyer has promised to take over the approximately 1,100 employees in the plant. It was agreed not to disclose the purchase price.
In addition, Continental is parting with a joint venture with the company Mettem for the production of speedometers in Chistopol. The sales process is at an advanced stage. The subsidiary ContiTech is also aiming to withdraw from a sales office in Moscow.
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