Years needed for tyre market recovery -Continental


FRANKFURT, March 27 (Reuters) - Continental AG , the world's fourth largest tyre maker, defended the closing of its two highest-cost production plants in Germany and France, citing a severe drop in demand that lacked precedent. "We are facing an unparalleled crisis in the tire markets. The sharp downturn is unfortunately long term, and it will take many years before the market has returned to the level of 2008," Chief Executive Karl-Thomas Neumann said in a statement on Friday. ...

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