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MAG to buy Continental plant
- United Arab Emirates: Thursday, June 11 - 2009 at 10:14
Fawaz Sabri, vice-chairman of UAE-based MAG Group has told Reuters that it has submitted a letter of intent to Continental AG to begin due diligence on buying its Claroix plant in northern France, and has given Continental 14 days to respond. 'We intend to get more information and details on the factory to put our business plan together,' Sabri said, adding it was the group's intention to buy the plant, its land and equipment to produce an estimated three million tyres a year.
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StaffThursday, June 11 - 2009 at 10:14 UAE local time (GMT+4)
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