Sri Lanka’s Eu-Retec to Expand Range Under Conti Alliance
The partnership operating between Watts Industrial Tyres and Continental AG since late 2004 has been replaced by a new strategic alliance with Sri Lankan manufacturer Eu-Retec (Pvt) Limited, who formerly produced tyres for Conti as part of the Watts arrangement. Watts held a 50 per cent share in Eu-Retec until earlier this year.
Continental has officially announced the formation of a joint venture with Eu-Retec, an arrangement in which Conti will take the majority shareholding.