Current Issue



Continental nixes Russian joint venture

Order Reprints

Continental AG is pulling the plug on its joint venture with Russia┬┤s Moscow Tire Plant, according to a Tyres & Accessories report.

Tyres & Accessories quoted a German newspaper that contained a statement from Continental AG Chairman Manfred Wennemer, who admitted Continental "did not succeed in finding solutions that would allow for a prosperous business in the long run."

The pull-out will reportedly cost Continental around 30 million euros.

The venture was formed in 2002 with the intention of producing passenger and light truck tires, including output of more than three million units by 2006.

Related Articles

Continental to establish Russian joint venture

Yokohama, Continental form joint venture

Continental seeks joint venture in China

You must login or register in order to post a comment.