Continental AG is believed to be considering buying the second largest chemical company in Slovakia, Matador, according to a local German newspaper.
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Continental is reported to be considering paying around EUR150m for the company, with which it has had a joint venture to produce truck tyres for the last seven years.
Matador was created from a state-controlled company in 1990, and is now quoted on the Slovak stock exchange. Matador Rubber has an annual turnover of around EUR325m and an operating profit of EUR40m.
Continental has acquired a number of companies this year. It is currently completing a deal to acquire the sensor module business of Finnish company VTI Technology.
A few months ago it acquired Motorola’s electronics business, a transaction valued at EUR1.3bn.
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