Malaysian operation now a full Conti subsidiary
Since 2003, Continental has held an increasing share in the Malaysian tyre business it ran together with Sime Darby Allied Products Berhad. Now the German company has acquired the outstanding 30 per cent share in Continental Sime Tyre Sdn. Bhd still owned by its joint venture partner, and the operation has become a fully-owned subsidiary of Continental Corporation. To mark the business’s 100 per cent Conti-owned status, it has been renamed Continental Tyre Malaysia Sdn. Bhd. Upon reporting the transaction, Conti comments that the share acquisition underlines the “long term interest and the commitment of Continental to Asean and to the Asia Pacific Region.”