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1995 The Continental Automotive Systems Group, established the year before in order to intensify the systems business, expands its activities in the development of systems and the supply of preassembled wheels to the European automotive industry. ContiTech and the industrial products division of the American company, Cooper Tire & Rubber Co., sign an agreement to collaborate in the fields of moulded products, extrusions and hoses. ContiTech takes over the power transmission products activities of TBA Belting Ltd., Wigan, Manchester, UK. The newly established company, ContiTech Power Transmission Systems Ltd., is the ContiTech Group's first plant in the UK. An agreement is signed with the French company, Michelin S.A., providing for the conclusion of cooperation agreements. The main points of these agreements are combined efforts in retreading and used-tire disposal, the assembly of tire/wheel units and the utilization of a production site for low-price tires. Continental also received the right to unlimited use of the Uniroyal brand name in Europe. |