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Continental Aktiengesellschaft Vahrenwalder Straße 9 30165 Hannover, Germany http://www.continental.com/de
Contact Mr Vincent Charles +49 511 9381364
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Continental Aktiengesellschaft

Continental Strengthens Technology Expertise with New Acquisitions

(PresseBox) (Hannover, )
  • Technology company strengthens its position in the fields of ultra-high performance tires and fleet management solutions
  • Acquisition of tire specialist Hoosier Racing Tire by US subsidiary Continental Tire the Americas
  • Purchase of a majority stake in fleet management expert Zonar
The Continental Corporation continues to expand its leading technology expertise with targeted acquisitions as announced. The international automotive supplier, tire manufacturer and industrial partner has acquired the tire specialist Hoosier Racing Tire (Lakeville, Indiana, USA), as well as a majority stake in Zonar Systems Inc. (Seattle, Washington, USA), a company specializing in fleet management solutions. It was agreed in both cases that the purchase price would not be disclosed.

Hoosier Racing Tire – Leading Manufacturer of Racing Tires

The company which calls the U.S. state of Indiana home currently has around 500 employees and is considered one of the largest manufacturers of racing tires in the world. Continental and Hoosier can already look back on seven years of successful collaboration. During this time, the two companies have worked together on various development and motorsport projects.

The purchase of Hoosier Racing Tire was completed on October 3, 2016. The company, founded in 1957, has been in private ownership up until the sale to Continental Tire the Americas.

Zonar – Intelligent Fleet Management Solutions for Commercial Vehicles

With a total of 330 employees, Zonar provides solutions for managing private and public commercial vehicle fleets in the North American market. With a majority stake in Zonar, Continental expands its presence in the US market. This combination results in one of the world’s leading providers of fleet management solutions.

The purchase contract gives Continental a stake in Zonar amounting to approximately 81 percent of the total shares. Daimler AG retains its existing share, which amounts to more than 19 percent. The transaction has obtained the required vote of the Zonar shareholders. Approval of the antitrust authorities is still required to complete the purchase. The share acquisition is expected to be completed in the middle of the fourth quarter of 2016.

Information for the press with more details on both purchases is available in separate publications.

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Continental Aktiengesellschaft

Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2015, the corporation generated sales of €39.2 billion with its five divisions, Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental currently employs around 215,000 people in 55 countries.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.