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

Out-of-patience investors sell off Amazon

23 hours ago

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

Oct 24, 2014

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

Oct 24, 2014

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

Oct 24, 2014

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0