S8 Capital Holding announced the completion of the transaction for the acquisition of Russian assets of the German company Continental AG. The Russian holding also acquired a plant with a capacity of 4 million tires per year, located in the Kaluga region, and a distributor of finished products.
«S8 Capital acquired Continental's Russian assets for their further development. Successful experience in IT transformations of businesses gives us reason to expect a restart of all production systems based on Russian IT technologies. In the near future, these assets will undergo a rebranding procedure», - said the managing director of the holding.
Also, Continental AG is going to sell its stake in a joint venture with the Russian company Mettem for the production of tachographs in Chistopol (Tatarstan), and sell the sales offices of the ContiTech group located in Moscow.
Recall that in July 2022, S8 Capital acquired the Russian plant of the American Otis Elevator Company, a well-known global manufacturer of elevators. Currently, products are manufactured under the Meteor Lift brand.
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