Continental, the German maker of tyres and auto parts, said on Thursday that it was teaming up with the leader in the Iranian tyre market, Kerman Tire and Rubber Company (KTRC), to boost its presence in the region.
The two partners signed an agreement at the beginning of October, whereby KTRC would manufacture tyres in Iran under licence for Continental.
The German company would be in charge of distribution, said Continental spokesman Andreas Meurer.
Board member Hans-Joachim Nikolin said: "The agreement will provide more rapid access to the Iranian market and neighbouring regions, where our presence is not yet sufficient." – (AFP)
© Agence France Presse 2000