HANOVER, Germany—German auto parts maker Continental AG says it is buying rubber and plastics maker Veyance Technologies Inc. from private equity firm The Carlyle Group for US$1.91-billion.
Continental said 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.
Veyance is based in Ohio and generated revenue of US$2.05-billion in 2013.
It has 27 plants worldwide and a workforce of about 9,000 employees.
The deal still faces anti-trust regulatory approval before it can close.