• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My Account
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Beyond Covid-19 Tire Market Forecasts
  • Features
    • Goodyear to buy Cooper – special supplement
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Tyres & Accessories Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Search
  • Menu
You are here: Home1 / News2 / Product News3 / Conti Report No Contact Over Truck Tyres

Conti Report No Contact Over Truck Tyres

Date: 4th June 2008 Author: Tyrepress Editors Comments: 0

Continental has responded to claims from German news sources that Italian rival Pirelli are interested in buying the German manufacturer’s truck tyre business, stating that they have yet to be contacted. A spokeswoman for Continental said that “There are no sales talks whatsoever”.

The speculation follows reports in Germany’s leading commercial economy newspaper Handelsblatt that Pirelli’s Chairman, Marco Tronchetti Provera, has declared definitively the company’s interest in truck tyres. Coupled with the attention devoted to Continental’s truck tyre business by the German company’s management in April this year, conjecture continues to develop as to the fate of the department.

The first-quarter figures for Continental’s truck tyre department showed a pre-tax earnings (EBIT) margin of 3.8 per cent; a margin much lower than the company’s target of 10 per cent for all divisions by 2010. Indeed, the German company has stated previously that it would sell its smallest division if it failed to lift its margin to coincide with Continental’s target figure.

Meanwhile, on the stock market yesterday, shares in Continental fell 3.3 per cent, while Pirelli experienced a 1.8 per cent gain.

Related news:

  1. Pirelli Interested in Continental Truck Tyre Unit
  2. Heading from Strength to Strength
  3. Conti Introducing M+S Steering Axle Tyre at IAA Show
  4. Continental Cuts Back Production at German Tyre Making Factories
Comments
Comments closed
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share on Reddit
  • Per E-Mail teilen

Related Tags

Continental, Germany, Pirelli, Product News, shares, truck tyres

Advert Location 28

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
Pirelli Interested in Continental Truck Tyre Unit Chicago Pneumatic Increases Socket Range
Scroll to top