Continental AG

M&A Activity • Feb 10, 2014

News Details

Ad-hoc | 10 February 2014 16:17

Continental to acquire Veyance Technologies Inc. from The Carlyle Group

Continental AG / Key word(s): Acquisition/Miscellaneous

10.02.2014 16:17

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Continental to acquire Veyance Technologies Inc. from The Carlyle Group

Continental AG, Hanover, Germany, has signed an agreement to acquire
Veyance Technologies Inc., Fairlawn Ohio, USA, for 1.9 billion US-Dollar.
The business of Veyance comprises engineering, manufacturing and selling
products made of rubber and plastics, predominantly for industrial
applications.

In 2013, Veyance Technologies Inc. has generated revenues of approximately
2 billion US-Dollar, of which more than 50% are allocable to the
NAFTA-Region. The business has approx. 9,000 employees and has their main
production and engineering facilities in the U.S., Canada, Mexico, South
America and China. It produces and supplies, inter alia, conveyor belts,
industrial hoses, air spring systems and power transmission belts. The
business generated an EBITDA of 270 mn US-Dollar in 2013.

Upon closing of this transaction, the acquired business is planned to be
integrated into Continental's ContiTech Division, which generated
according to preliminary data revenues of 3.9 bn EUR and an EBITDA of 576
mn EUR in 2013.

The transaction is subject to merger control clearance.

Hanover, February 10, 2014

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Language: English
Company: Continental AG
Vahrenwalder Straße 9
30165 Hannover
Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: ir@conti.de
Internet: www.conti.de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg,
Hannover, Stuttgart; Freiverkehr in Berlin, Düsseldorf,
München; Terminbörse EUREX; Luxemburg, SIX

End of Announcement DGAP News-Service

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