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Conti forms JV in Sri Lanka

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COLOMBO, Sri Lanka (Aug. 31, 2009)—Continental A.G. has set up a joint venture with Sri Lankan solid tire maker Eu-Retec (Pvt.) Ltd. to make industrial tires for Conti for the North American and Asian markets.

Conti reportedly will invest $7 million in Eu-Retec's facilities, and the agreement calls for Michael Maertens, managing director of Conti's industrial tires business, to become chairman of a joint venture Conti formed with the Sri Lankan firm. The venture started shipping tires earlier this year.

Eu-Retec makes new and remolded industrial solid tires at a plant near Colombo. The deal replaces one Conti has had since 2005 with Watts Industrial Tyres of the United Kingdom.

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Previous | Published February 22, 2019

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