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Continental take-over of Phoenix AG approved

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Continental AG has received the green light from the European Union to move forward with its acquisition of Phoenix AG.

As part of the deal, Continental has agreed to sell Phoenix´s Vibracoustic vibration control and suspension holding and dispose of a heavy conveyor belt production line.

The acquisition will "allow us to hold to our plan of further expanding the position of our ContiTech division as one of the world´s leading specialists in rubber and plastics technology," says Continental Chairman Manfred Wennemer.

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