Conti cuts deal with Moscow Tire

HANOVER, Germany (April 11)—Continental A.G. has agreed to eventually take majority control of Moscow Tire Plant, a deal that will allow the Russian facility to expand and upgrade. The German company will spend $43 million over a three-year period, with $15 million invested this year after a formal contract is signed. Initially, the plant will increase production of Taganka-brand tires to 5 million units annually from 2 million units, and eventually make Continental, Barum and Gislaved passenger and light truck tires, Conti said.