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January 11, 2017 01:00 AM

Conti to sell shares in Pakistani tire company

Shahrzad Pourriahi
European Rubber Journal
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    HANOVER, Germany—Continental A.G. has confirmed that it is selling its shares in Pakistan's General Tyre and Rubber Co.

    The German tire maker said in a statement that Continental Global Holding Netherlands B.V. was selling its 9.78 percent stake in the Pakistani venture, but did not provide a reason for the move.

    Based in Karachi, Pakistan, GTR produces 1.2 million tires a year which include passenger car, light vehicles, farm and two-wheeler tires.

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