Continental to establish Russian joint venture

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Continental AG and Moscow Tire Plant in Moscow, Russia, have formed a joint venture that will manufacture passenger and light truck tires.

The venture will produce about 1.5 million Continental and Barum brand tires when it opens in late 2003, and output will increase to 3.4 million units a year by 2006.

Continental, which holds majority interest in the venture, plans to invest nearly 30 million euros in it over the next three years.

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