Conti Chief Says Company Looking at Major Acquisitions
(Akron/Tire Review) Bloomberg reported that Continental AG is “working on” as many as five major acquisitions in addition to its ongoing quest to buy Siemens AG’s VDO unit. The news was attributed to Conti chairman Manfred Wennemer.
Wennemer, reportedly, described the hoped for acquisitions as being in the $1 billion range. There was no word as to whether any of the planned buys involves another tire company or specific part of the world. Wennemer also said that Conti may consider another run at buying Siemens VDDO even if it goes public, as Siemens AG plans.
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