Continental buys Czech tire machine tool maker
OTROKOVICE, Czech Republic — Continental A.G. has acquired its long-term supplier of components for tire-assembly machines, VÚK spol. s.r.o, based in Otrokovice, in a move designed to strengthen Conti’s expertise in tire manufacturing equipment.
Financial terms of the deal were not disclosed. VÚK reported sales of $16.5 million in 2016.
Conti said it will integrate VÚK and its 90 employees into its Continental Molds and Machinery business, a developer and producer of tire assembly machines and tire molds located at the Otrokovice tire factory.
“With this acquisition of VÚK, we are strengthening our production capabilities in terms of tire assembly machines and are therefore supporting our growth strategy ‘Vision 2025,'” Bernhard Trilken, head of manufacturing and logistics tires, said.
“Together we are not only expanding our portfolio but also gaining new expertise in machine construction and strengthening Otrokovice as a technology site.”
Conti has had an ownership stake in the former Barum Holdings plant since 1993.
“For us at CMM and for the Otrokovice site, this merger is an important component in consolidating our competitiveness,” Didier Fuchs, head of the CMM business unit, said.
Conti said Otrokovice is its largest tire plant worldwide, with annual capacity of 1.5 million truck and bus tires and 21 million passenger and light truck tires.
VÚK’s history dates to 1936 at the Czech shoe producer BATA and continued after World War II under the SVIT shoe industry entity. It became an independent private company specializing in manufacturing machinery in 1993.