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Grant Thornton advises Continental on acquisition of mold manufacturing specialist for commercial vehicle and speciality tyres
Frankfurt/Munich/Düsseldorf, 7 May 2024
Continental has acquired the Slovak mould manufacturing specialist EMT Púchov s.r.o. All shares of Continental’s long-standing supplier were transferred to Continental at the beginning of April. The tyre manufacturer had previously entered into an agreement to this effect with EMT’s shareholders, Dynamic Design (Romania) being the majority shareholder. With the acquisition of EMT, Continental completes its internal portfolio for mold making technologies. From now on, the tyre manufacturer can independently produce tire molds for all applications if required. All 107 employees, who have specialist knowledge in mold manufacturing, have been taken on by Continental. Further details of the agreement were not disclosed.
An interdisciplinary, cross-border team from Grant Thornton Germany and Grant Thornton Slovakia led by Dr Stephane Müller, Klaus-Martin Haußmann, Dr Stefan Hahn (all Germany) and Silvia Hallová and Filip Tichý (both Slovakia) successfully assisted Continental through the transaction with financial and tax due diligence.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic, and transportation. In 2023, Continental generated sales of €41.4 billion and currently employs around 200,000 people in 56 countries and markets.
EMT is an important manufacturer of special tyre moulds, especially for commercial vehicle and speciality tyres. The company specialises in the milling of steel moulds.
Team
Financial
Dr. Stephane Müller
Partner (Frankfurt)
+49 69 905598 768
stephane.mueller@de.gt.com
Klaus-Martin Haußmann
Partner (Frankfurt/München)
+49 173 313 2537
klausmartin.haussmann@de.gt.com
Filip Tichý
Partner (Slowakei)
+421 2 59 300 442
filip.tichy@sk.gt.com
Peter Vaško
Manager (Slowakei)
+421 905 731 610
peter.vasko@sk.gt.com
Tax
Dr. Stefan Hahn
Partner (Düsseldorf)
+49 211 9524 8735
stefan.hahn@de.gt.com
Sandra zur Linden
Senior Manager (Düsseldorf)
+49 211 9524 8482
sandra.zurlinden@de.gt.com
Silvia Hallová
Partner (Slowakei)
+421 2 59 300 474
silvia.hallova@sk.gt.com
About Grant Thornton in Germany
Grant Thornton AG is one of the ten largest audit firms in Germany, providing services to upper mid-market companies and listed companies, with around 1,900 employees at ten offices. The audit and advisory firm consists of the service lines Audit & Assurance, Tax, Advisory and Legal. The firm is legally independent. To be able to serve national clients internationally as well, the firm is a member of the international Grant Thornton International Ltd network (GTIL). GTIL and its member firms are not a worldwide partnership but legally independent entities. With around 73,000 employees, the Grant Thornton network advises companies in around 149 countries across the world. www.grantthornton.de
Contact
Willi Keipper
Manager PR & Corporate Communications
+49 30 8904 82106
willi.keipper@de.gt.com