Continental sells South Africa agricultural and industrial tyre factory assets
Continental Tyre South Africa has sold the manufacturing assets it used to make industrial and agricultural tyres in Port Elizabeth, South Africa. Prior to the sale, Continental manufactured bias-ply and radial agricultural tyres at the Port Elizabeth location. Continental’s ongoing production operations, such as its passenger car and light truck lines, are not affected by the news.
Pelmar Engineering Group has acquired the assets, including 36 curing presses and “other auxiliary equipment”, according to European Rubber Journal reports.
Tyres & Accessories understands the purpose behind Pelmar’s acquisition of the assets is to sell the machinery to other tyre manufacturers around the world – a process, which is said to be well underway. Indeed, many of the presses have reportedly already been sold to customers in south-east Asia and Europe.