Continental acquires all shares of its Indian joint venture

Continental Group has announced that it has acquired all the shares of the joint venture company established with Rico Automotive Industry Co., Ltd.

Continental Group and Rico Automotive Industry Co., Ltd. each held 50% of their shares and established Rico Hydraulic Brake India Co., Ltd.. Since 2009, the company has started supplying various hydraulic brake system products, including calipers, to Indian automakers. Drum brakes, master cylinders, and brake propellers.

Claude dGama Rose, head of Continental Group India, said: "The acquisition of all the shares of the hydraulic brake company will enable the mainland to better serve the Indian market, we will continue to increase investment in the Indian market, to India's auto business and rubber Business introduction of advanced technology."

In 2011, the Continental Group acquired Modi tyres and expanded its R&D center in India. This year, the mainland intends to expand its facilities in Pune and Manizar.