Continental buying Veyance Technologies for $1.91B

Feb 10, 2014 by The Associated Press

German auto parts maker Continental says it is buying rubber and plastics maker Veyance Technologies Inc. from private equity firm The Carlyle Group for 1.4 billion euros ($1.91 billion).

Continental said Monday that the deal will complement its existing operations and expand its position in rubber and plastics technology on a worldwide basis. It plans to incorporate the business into its Contitech unit.

Veyance is based in Ohio and generated revenue of 1.5 billion euros in 2013. It has 27 plants worldwide and a workforce of about 9,000 employees.

The still faces anti-trust regulatory approval before it can close.

Explore further: Carlyle Group makes $4.15B offer for J&J business

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Carlyle Group makes $4.15B offer for J&J business

Jan 16, 2014

Johnson & Johnson said Thursday that it's been offered $4.15 billion by The Carlyle Group for its Ortho-Clinical Diagnostics business, a year after J&J began reviewing strategic options for the blood-testing ...

German drug maker Merck ups forecast for 2013

Nov 14, 2013

German chemicals and pharmaceuticals giant Merck KGaA said Thursday it is raising its full-year operating profit forecast thanks to improving sales and positive cost-cutting effects.

Microsoft to take over Nokia HQ in 2014 after deal

Nov 21, 2013

Nokia says its headquarters near the Finnish capital will be taken over by Microsoft on completion of the sale of its cellphone and services division to the U.S. software company, expected in early 2014.

Recommended for you

The New York Times to cut 100 newsroom jobs

5 hours ago

The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.

What's PayPal's first solo move?

Sep 30, 2014

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

Sep 30, 2014

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

User comments : 0