Regent to acquire the ContiTech original equipment solutions from Continental.

Regent, an industrial holding company, agreed to acquire the ContiTech original equipment solutions from Continental, an automotive supplier. Financial terms were not disclosed. “The decision to sell OESL is part of our broader strategy to intensify our focus on our industrial business. Going forward, ContiTech will be a standalone specialist for material solutions with a strong focus on industry. Given the dynamic market environment, concentrating on industrial business is the cornerstone of our strategy. Following the sale of OESL, ContiTech will generate around 80% of its sales with industrial customers. Our customer portfolio is highly diversified, both by industry and by region,” Philip Nelles, Continental Head of the ContiTech group sector.