Antitrust Authorities Give The Go-Ahead: Continental Takes Over Finnish Spike Manufacture TIKKA Entirely

HANOVER - September 18, 2008: Following the approval of the antitrust authorities, Continental AG, headquartered in Hanover, took over all parts of the Finnish spike manufacturer TIKKA Spikes Oy mid-September.

TIKKA Spikes Oy has a plant in Finland - in the community Gemeinde Jyväskylä in Tikkakoski - and a sales office in Espoo as well as a plant in St. Petersburg, Russia, through its Russian associated company OOO TIKKA. In 2007, the TIKKA workforce of 120 employees achieved sales of approximately 15 million euros.

"We are pleased that, with TIKKA's know-how, we can further strengthen our leading position in the winter tire business in Scandinavia and Russia in particular," said Lothar Salokat, head of the tire plant in Korbach, Germany. Continental also intends to continue the business relations of TIKKA Spikes with other tire manufacturers.