Continental General Tire signs sales agreement for Japanese market.AKRON Akron (ăk`rən), city (1990 pop. 223,019), seat of Summit co., NE Ohio, on the Little Cuyahoga River; inc. 1865. Once the heart of the nation's rubber industry, Akron still contains the headquarters of some rubber corporations and chemical and , Ohio--(BUSINESS WIRE)--Sept. 14, 1995--Continental General Tire The General Tire and Rubber Company is an American manufacturer of tires for motor vehicles. General Tire was founded in 1915 in Akron, Ohio by William F. O'Neil. In 1943 General Tire branched out from its core business by purchasing the Yankee Network and the radio stations has reached agreement with Autobacs Seven Co. to sell specific tire lines of CGT CGT Capital Gains Tax CGT Confédération Générale du Travail (French Labor Union) CGT Confederación General del Trabajo (Spanish: Federation of Trade Unions) in its 361 retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → in Japan. The contract provides exclusive distribution rights in Japan to Autobacs, one of the world's largest retailers of automotive products. The agreement calls for Autobacs to stock and sell both passenger and light truck tire lines manufactured by Continental General Tire. ``We are pleased to be associated with Autobacs and this agreement will make a significant impact on marketing our products to the Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and market,'' said Bernd Frangenberg, president of Continental General Tire. Koichi Sumino, Autobacs president, said that the addition of the new tire lines serves their customers better by offering a broader selection. "We have always prided ourselves on providing high quality products as well as a wide selection to choose from," he said. "Adding the new tire lines continues this policy." Autobacs sales in 1994 was nearly $1.6 billion and Continental General Tire's sales topped $1.4 billion. Continental General Tire Inc., a major supplier to the original equipment and replacement markets, is a wholly-owned subsidiary of Continental AG of Germany, the fourth largest tire manufacturer in the world. CONTACT: Epley Associates Inc., Charlotte, N.C. Ron Vinson, 704/522-1220 |
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