UPDATE 1-Continental AG to buy into Sime tyre unit

Newswire

(Updates with signing, adds quotes) KUALA LUMPUR, Feb 26 (Reuters) - Germany's Continental AG , the world's fourth-largest tyre maker, said on Wednesday it had bought 30 percent of the tyre unit of Malaysian conglomerate Sime Darby's for $31 million. Continental has the option of buying a further 21 percent in Sime's SDC Tyre Sdn Bhd by 2005, giving it control of the Malaysian company and access to the nine other markets of the Association of South East Asian Nations (ASEAN). "Together ...

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