18 April 2011;deccanherald.com:Bangalore:International automotive supplier and world’s fourth largest tyre manufacturer Continental has signed an agreement with Modi Rubber Ltd (MRL), for acquisition of 100 shareholding in Modi Tyres Company Limited (MTCL), a subsidiary of MRL. The deal depends on fulfillment of several conditions. Once through, MTCL will become fully owned subsidiary of Continental Corporation. The company will focus on local production and distribution of bias and radial truck/bus tyres as well as radial passenger car tyres for the Indian market.
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