Continental buying Veyance Technologies for $1.91B

February 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: Microsoft to take over Nokia HQ in 2014 after deal

Related Stories

Microsoft to take over Nokia HQ in 2014 after deal

November 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.

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

January 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 unit as part ...

Recommended for you

For these 'cyborgs', keys are so yesterday

September 4, 2015

Punching in security codes to deactivate the alarm at his store became a thing of the past for Jowan Oesterlund when he implanted a chip into his hand about 18 months ago.

How to curb emissions? Put a price on carbon

September 3, 2015

Literally putting a price on carbon pollution and other greenhouse gasses is the best approach for nurturing the rapid growth of renewable energy and reducing emissions.

Magnetic fields provide a new way to communicate wirelessly

September 1, 2015

Electrical engineers at the University of California, San Diego demonstrated a new wireless communication technique that works by sending magnetic signals through the human body. The new technology could offer a lower power ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.