Retail

Continental appears close to selling OTR plant

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Continental AG, in response to a Reuters report last week, verified it is holding "concrete negotiations" to sell its Bryan, Ohio, OTR tire manufacturing facility, "together with the corresponding business."

The company says the planned sale of the OTR business "is in keeping with the company’s strategy of parting from business sectors that do not belong to the core business, do not reach earnings goals on a permanent basis or which cannot achieve a leading market position in the foreseeable future."

Continental says the OTR unit achieves annual sales of approximately $80 million and has a workforce of nearly 300 people.

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