Is Conti Eying Goodyear Unit?

(Akron/Tire Review) Continental AG is considering the purchase of Goodyear Tire & Rubber Co’s engineered products business. Conti CFO and Continental Tire North America President Alan Hippe told German media last week that such an acquisition would be a good fit. “We will look at that. That is for sure,” Hippe said. “But I have to state here that our major priority is to grow in automotive systems.

The second priority is go to tyres, especially go to Asia. The third priority is growing in Contitech. Referring to the Goodyear’s Engineered Products business, Dr Hippe told Reuters: “The fit would be there. Goodyear has a product portfolio which is quite comparable to ContiTech’s,” he said. Goodyear is considering divesting the unit, which has annual sales of $1.5 billion. It makes non-tyre rubber products such as hoses, conveyor belts and other moulded products for the industrial, military and transportation markets.