Continental sells plant in Russia
Continental has announced the sale of its plant in Kaluga, Russia as part of its “controlled withdrawal” from the Russian market, following the country’s invasion of Ukraine last year.
The site has been purchased by Russian firm S8 Capital, who will now be responsible for the plant’s 1,100 employees.
The deal also includes a distributorship in Moscow that belonged to the Tires group sector. A purchase price has not been disclosed.
Continental produced passenger tyres at the plant in Kaluga. Air conditioning and power steering lines as well as parts for air suspension systems for the Russian market were also manufactured there.
The ContiTech group sector also has sales offices in Moscow with around 30 employees, which Continental aims to withdraw.