November 24 (SeeNews) - Serbian blue-chip rubber and chemicals group Tigar said it has acquired U.K. protective boots brand Century and Danish rubber company Bilgutex.
The acquisition costs were not disclosed.
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The deal for the Century brand with U.K.-based rubber boots maker Hunter also covers relevant technology and trade contracts, Tigar said in a statement made available to SeeNews late on Monday.
The purchase of Bilgutex also entails the transfer of related equipment, production technology and manufacturing certificates, the statement said.
The two acquisitions are part of Tigar's plan to pull out of pneumatic tyre production, Belgrade-based news broadcaster b92 (www.b92.net) reported on Monday, quoting Tigar CEO Dragan Nikolic as saying.
Tigar Corporation said in January 2008 it would gradually exit its tyres unit, Tigar Tyres, by 2010, selling its 30% stake to French tyre manufacturer Michelin who, at the time, was a 70% shareholder.
Tigar (www.tigar.co.rs) opened a 17.6 million euro ($26.3 million) rubber boots factory last year in the southern town of Pirot where it is based. Earlier this month, it also opened a 6.0 million euro rubber factoryin the same location.
No trading data on Tigar shares was available by 1236 on the website of the Belgrade bourse on Tuesday. The company's shares closed down 3.73% at 775 dinars ($12.3/8.2 euro) on Monday.
(1 euro=94.4120 Serbian dinars)