Mitas purchase includes CTNA's farm tire division

June 2, 2004

Continental Tire North America Inc.'s (CTNA) farm tire division will be included in Ceska Gumarenska Spolecnost's (CGS) acquisition of Continental AG's ag tire unit; CGS is the parent company of Mitas a.s.

The transaction is expected to be finalized within the next few months, according to Mitas officials.

Mitas will be responsible for the production and trade of the Continental, Semperit, Barum and Euzkadi farm tire brands as part of the deal.

The buy-out is part of CGS' plan to intensify its focus on the off-road tire segment.