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Continental buying Veyance Technologies for $1.91B

By The Associated Press
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German auto parts maker Continental says it is buying rubber and plastics maker Veyance Technologies Inc. from private equity firm The Carlyle Group for 1.4 billion euros ($1.91 billion).

Continental said Monday that the deal will complement its existing operations and expand its position in rubber and plastics technology on a worldwide basis. It plans to incorporate the business into its Contitech unit.

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