AKC Note: Veyance Technologies is the former Engineered Products division of Goodyear which was sold to the Carlyle Group in 2007 for nearly $1.5 billion. Their products range from hoses, air springs and power train belts to rubber tracks and conveyor belts for industrial end uses. They reported revenues of $2 billion in 2013 with over 9,000 employees. They are a significant user of high tenacity polyester and nylon. Most of their revenue is from outside the automotive industry. Continental is the 2nd largest tire company in Europe and claims to be the 3rd largest automotive parts supplier in the world. They had sales of $45.4 billion in 2013 and employ 177,000 people worldwide. The sale is reportedly valued at $1.91 billion.
The acquisition has to receive approval from antitrust authorities.
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