HANOVER, Germany (July 9, 2001)—Continental A.G. has sold Deutsche Schlauchbootfabrik GmbH, a producer of inflatable boats and marine escape chutes, to Survitec Group of Belfast, Northern Ireland, a global supplier of such products to the commercial and military markets.
DSB, as the German company is known, will operate alongside Survitec's other divisions, RFD, Beaufort, Eurovinil and Elliot Crewsaver. DSB employs 130 at plants in Eschershausen and Groschoenau, Germany; annual sales are in the $13.5 million range.
Terms of the deal were not released. Survitec—the Survival Technologies Division of Wardle Storeys Ltd.—called this an important strategic acquisition that will further consolidate its position as the world's premier marine life saving equipment supplier. DSB was part of the ContiTech rubber components unit that is up for sale.