ČGS a.s. take over the Business Unit AGRO Continental.
On October 1, 2004, the representatives of MITAS a.s. and the representatives of the Continental concern have signed an executive contract to the „Basic agreement on purchase and sale“ from May 25, 2004 which has concluded the first phase of transferring the trade unit AGRO from the Continental concern into the Czech Rubber Society (ČGS) group.
In this first stage, the complete manufacture in Otrokovice (about 500 employees) and the first branch (Mexico) from the ten foreign branches have been transferred into the ČGS. Further foreign trade companies (USA, Austria, Germany, Italy, France, Spain, Greit Britain) and the central of the AGRO division in Hannover will be transferred into ČGS on November 1, 2004 and the remaining branches (Scandinavia, Switzerland) at the beginning of 2005.
With the effect since October 1, 2004, MITAS acquires the right to use the trade marks Continental, Semperit, Barum and Euzkadi for agricultural tyres. In this way, the ČGS group has significantly strenghtened its long-term strategy of aiming towards the development, manufacture and sale of the out-of-motorway, especially, agricultural tyres.