Continental sells Kaluga, Russia tyre factory to S8 Capital
Continental opened its Kaluga plant in October 2013; within 5 years it had produced 10 million tyres (Photo: Kaluga Region) On 22 May, Continental confirmed that it has sold its tyre factory in Kaluga, Russia, to Russian company S8 Capital. That means Continental has now divested the majority of its activities in Russia as part of its aforementioned “controlled withdrawal”. The transaction has been approved by the relevant authorities. Continental and S8 have agreed that employees will be taken over as part of the sales contract. No price details have been disclosed.
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