Continental Buys 60 Per Cent of Temic

Continental has announced that it has bought 60 per cent of auto components manufacturer Temic, subject to regulatory approval. Conti paid DaimlerChrysler (DCX) between 623 and 633 million Euro – the exact price is dependent on when the tyre manufacturer decides to acquire the remaining 40 per cent. Until that time, DCX will retain the 40 per cent shareholding.

Last year Temic turned over 1.1 bn Euro and the company employs 5,800..