Continental confident on 2005 outlook
Continental’s president and CEO (North America), Martin de Louw, is “optimistic on 2005’s outlook” reports Deutsche bank. Analysts predict that earnings will benefit from a partial payback from the Mayfield plant closure and the conclusion of restructuring charges attached to it.
The consolidation of Phoenix and a positive impact from selling price increase/raw material price increase of maybe 50 million euros is also expected to benefit the company. “Overall while 2004 was a good year for Tires Co, 2005 could be even better,” say analysts.