Continental, Modi sign manufacturing deal
Continental AG has forged a new manufacturing, technology sharing and licensing agreement with Indian commercial truck tire manufacturer Modi Tyres Co. Private Ltd.
As part of the deal, Modi will produce more than one million Continental brand bias-ply truck tires for the Indian market. The tires will be sold "via a revived Modi sales network," according to Continental officials. "Bias tire techology still accounts for more than 90% of the Indian market."
Continental and Modi have collaborated on various projects going back to 1974. In recent years, "new contacts were formed between Continental and Modi and previous arrangements were revived. Further collaboration possibilities are currently being looked into."