Speculation is mounting that Schaeffler, which took control of Continental last summer, may have to put Continental back on the market because it is facing a liquidity squeeze.
Co-managing partner Michel Rollier told a press conference that if Schaeffler decides to look for a buyer for Continental "obviously Michelin wouldn’t be absent. I can’t tell you more than that."
Rollier went on to point out that in the current depressed state of the industry "there are many smaller tire companies in the world, and it’s not impossible that the crisis can lead to mergers. Here too, we certainly won’t absent." (Tire Review/Akron)
