Continental AG sells U.K. retail chain

Jan. 8, 2002

Continental Tire North America Inc. parent company Continental AG has sold its United Kingdom-based National Tyre Service retail chain, according to reports from Reuters and Bloomberg.

National Tyre Service's 214 stores are now owned by European investment firm Axle Group Holdings.

Axle Group Holdings also has bought Continental's Viking International trading unit that has 10 tire and car parts distribution centers in the U.K.

Viking's sales last year totaled $165 million, according to Reuters.

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