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EU Approval of Grant To Continental

The European Union has approved grants given by the Portuguese government to Continental as an incentive to establish projects in Lousado, Portugal. The Swedish government had raised objections when Continental closed a production plant in Sweden (Gislaved) and transferred work to Portugal (Mabor). The EU reserves the right to re-examine the case if new evidence arises.

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Related news:

  1. Union Asks Continental to Reconsider Mayfield Closure
  2. General Tyre Tanzania Plant at a ‘Crossroads’
  3. Continental Ends Talks With MAG Over Clairoix Plant
  4. Social Measures for Conti Clairoix Employees Outlined in Agreement
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Hayes Lemmerz Completes Sale of its System Service Division

Hayes Lemmerz International announced the sale of its non-core System Service business to Schedl Automotive System Service Beteiligungsgesellschaft mbH & Co. Verwaltungs-KG, in Germany. Terms of the transaction were not disclosed. Hayes Lemmerz acquired the System Service business in 1997 in connection with the acquisition of Lemmerz Holding GmbH. The business has approximately 250 employees and operates five tire and wheel assembly operations, one of which is a 49% joint venture (51% Continental in Portugal). These facilities are located in Belgium, Germany, the Czech Republic and Portugal.

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Related news:

  1. Results Cannot Disguise Weak Period For Continental
  2. ‘New Era’ at Conti Following Siemens VDO Purchase
  3. Dieter Rogge Heads Continental Powertrain Division
  4. Employees Give Conti the Thumbs Up
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