The technology company Continental is to acquire Kmart Tyre and Auto Service (KTAS), one of Australia’s largest tire and auto service suppliers. As the international automotive supplier, tire manufacturer and industry partner announced today in Hanover, this will greatly reinforce the corporation’s tire dealership network in Australia. KTAS is being sold by Wesfarmers Limited of Australia. The deal is worth AUD350 million (approximately €227 million).
“Australia is a highly promising sales market for Continental,” says Nikolai Setzer, member of the Executive Board of Continental AG responsible for the Tire division. “The acquisition of KTAS marks a major expansion in our presence on the Australian tire market. This move is part of our ‘Vision 2025’ growth strategy through which we are systematically expanding the worldwide presence of our Tire division.”
With a current total of 258 branches, KTAS is well represented above all in the country’s densely populated east and South-east coast regions. The company, which has more than 1,200 employees, is based in Sydney. The core business of KTAS comprises passenger and light commercial vehicle tire sales and service, inspections and maintenance, as well as minor mechanical repairs to brakes, air-conditioning and suspension systems.
“We are very pleased to further strengthen our commitment to the Australian market through the acquisition of KTAS – a very successful and well-known tire and auto services chain in Australia,” commented Ferdinand Hoyos, Head of PLT Tire Business Asia Pacific. “Together with the current management team and our new colleagues at KTAS we are looking to drive forward what is already a strong network of outlets and expand their product portfolio,” he added, setting out Continental’s plans.
In the future, the international tire manufacturer with its broad portfolio of car, commercial vehicle and two-wheeler tires, as well as its already existing BestDrive retail network is aiming to complement the tire, car parts and repair business with services for retail customers as well as for fleet operators in the Australian market.
Continental’s Tire division is one of the world’s leading tire manufacturers. The corporation operates four tire production plants in the Asia-Pacific region. To date, Continental has been represented in Australia through its Best Drive and Continental branded retail network.
As part of its Vision 2025 – the Tire division’s long-term international growth strategy – Continental recently invested in more capacities in tire production at existing plants and in construction of a new passenger and light truck tire production plant Thailand. In Germany, the corporation started construction of its Taraxagum Lab Anklam to study the industrial scale production of dandelion rubber.
Continental AG & Profibusiness.world
August 16, 2018