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Article: Continental buys majority of Erco.(News)(Company overview)
- Article from:
- Tire Business
- Article date:
- July 20, 2009
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Continental Tire North America Inc. (CTNA) has increased its ownership of Compania Ecuatoriana del Caucho S.A. (Erco) to a majority stake and plans to use the company as a base to expand its presence throughout the Andean region.
Conti recently raised its ownership stake to more than 50 percent from 42 percent, buying shares from local shareholders for an undisclosed price.
Erco was founded in 1962 as a subsidiary of General Tire & Rubber Co. Continental A.G acquired the ownership in 1987 with its purchase of General Tire.
As a Conti affiliate, Erco sells Continental-, General- and Barum-brand tires in Ecuador and throughout the Andean region, ...