Continental Ends Talks With MAG Over Clairoix Plant

Talks between Continental AG and MAG, a Dubai-based potential buyer of the company’s tyre technology and passenger/light truck tyre manufacturing facility in Clairoix, France, have ended. According to Continental, the talks “mutually ceased” with no agreement reached. The parties held intensive discussions, but finally concluded that it was not possible to reach common ground on pursuing further negotiations.

“We would have liked to have become involved in the tyre manufacturing business as an extension to our value-chain activities which are strongly focused on the trade sector. Using the knowledge we have at present we shall continue to examine this approach. We specifically thank the French government for its commitment and support while we were deliberating on the matter, and we shall keep France in our minds as a key location for future business plans”, said Dr Fawaz Sabri vice chairman of MAG

Dr Bernhard Trilken, responsible for Continental`s global passenger and light truck tyre production, added: “It was not possible to enter into concrete negotiations on the basis of jointly defined framework conditions. The two parties reached the same conclusion and, at that point, agreed to terminate the sales talks.”