HANOVER, Germany—Continental A.G.'s tire segment continued to expand its business in tire mold design and manufacturing for the first half of 2015, according to its financial report released Aug. 4.
The financial statement said Continental Caoutchouc-Export-GmbH, acquired the business of A-Z Formen-und Maschinenbau GmbH in Runding-Langwitz, Germany, and AZ-CZECH s.r.o., in Meclov, Czech Republic.
The shared deal was done for a purchase price of about $38.4 million.
In order to further expand the commercial tire trade and tire retreading area, the German company said its North America commercial tire/retread distribution arm, BestDrive L.L.C. acquired Hill Tire Company, Inc. and FAD Enterprises L.L.C. both based in Forest Park, Georgia.
The provisional purchase price of about $11.3 million was paid in cash, Conti said.
Also, as part of an asset deal, Continental-owned Profi Reifen und Autoservice GmbH, based in Wiener Neudorf, Austria, sold its complete-wheel assembly activity at the site in Kalsdorf, Austria, to PTG Automotive Solutions and Services GmbH, Kalsdorf, Austria.
This transaction resulted in a loss of about $100,000 that was reported under other expenses and income.