Conti Acquires 51% of Matador Tyre & Rubber Business
Continental AG has acquired a 51 per cent interest in Continental Matador Rubber s.r.o. based in Puchov, Slovakia. The tyre and conveyor belt business, together with the rubber processing equipment business unit, were separated beforehand from the parent company Matador a.s., which now holds a 49 per cent interest in the joint company. “This shareholding enables us to expand our existing joint venture with the Matador Group in the field of truck tyres. At the same time we are significantly strengthening our production and operations base in central and eastern Europe and making lasting investments here,” explained Manfred Wennemer, chairman of Continental’s Executive Board. The newly founded company will remain a legally independent unit with sole responsibility for its business.
Matador Group CEO Dr. Štefan Rosina said “we have been looking for a strategic partnership for our Passenger and Light Truck tyre business very seriously. Therefore, I’m glad that all conditions of this strategic alliance were successfully carried out and I am sure that this joint venture with Continental will give a new future to our tyre business. We will remain in this joint venture company as an important shareholder and this will enables us to strengthen our position in the automotive sector – our new strategic business for the Matador brand.”