Continental Closes $1.6B Purchase of Veyance Technologies - Modern Distribution Management

Log In

Continental Closes $1.6B Purchase of Veyance Technologies

Acquisition expands Continental's global presence in rubber, plastics technologies.
Author
Date

Continental AG, Hanover, Germany, has closed its €1.4 billion (US$1.6 billion) purchase of U.S. rubber company Veyance Technologies Inc., Fairlawn, OH. The deal, announced a year ago, finally gained approval from the Brazilian antitrust authority CADE (Council for Economic Defence).

Veyance, a spinoff of Goodyear Tire & Rubber Co. with a workforce of 8,500 and annual revenue of $2 billion, will become part of Continental's ContiTech division.

"By integrating Veyance in our ContiTech division, we are expanding our global position in rubber and plastics technologies," said Elmar Degenhart, chairman of Continental's executive board. "In addition, this acquisition will bring Continental a significant step closer to its strategic goal of further increasing the proportion of industrial and end-customer business in its sales."

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.