Conti acquires full ownership of Malaysian tire plants
On Monday, Continental announced it has acquired the outstanding 30% of the shares of Continental Sime Tyre Sdn. Bhd. from its joint venture partner Sime Darby Allied Products Berhad. This purchase makes Continental Sime Tyre Sdn. Bhd. a fully owned subsidiary of Continental Corporation, and the company will be renamed as Continental Tyre Malaysia Sdn. Bhd. According to Continental, the transaction reflects its long-term commitment to the Asia Pacific Region.
Continental operates two tire plants in Malaysia. One plant located in Petaling Jaya produces radial truck and bus tires, as well as OTR tires for agricultural and industrial uses. The second plant is located in Alor Star and produces passenger and light truck radial tires as well as motorcycle tires. The tire division in Malaysia employs some 2,500 people.