Continental Concludes Veyance Acquisition Following Approval

Continental concluded its acquisition of the U.S. rubber company Veyance Technologies Inc., of Fairlawn, Ohio, on Jan. 30. On Jan. 29, the Brazilian antitrust authority CADE (Council for Economic Defence) cleared the transaction with certain conditions, thus providing the approvals necessary for completion. International automotive supplier, tire manufacturer and industrial partner Continental is boosting its worldwide industrial business with this acquisition, which is the most significant acquisition in recent corporate history. The transaction is valued at 1.4 billion euros.Veyance operates globally in the field of rubber and plastics technology and in 2013 recorded sales of some 1.5 billion euros, around