Tire Company Merger Sought: Italian tire maker...
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From Times Staff and Wire Reports
Tire Company Merger Sought: Italian tire maker Pirelli SPA says it seeks a merger with Continental AG, West Germany’s biggest tire firm to create a giant that can compete better in the tough global market. Pirelli said a majority of Continental shareholders want a merger. Continental has a stake in America’s General Tires. The new company, which would have 16% of the world market, would rank fourth in size behind Michelin of France, Goodyear of the United States and Bridgestone of Japan.
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