Conti turns 140
Tomorrow one of the world’s largest tyre and automotive component manufacturer will celebrate 140 years in the business. On October 8, 1871 nine bankers and industrialists from the German city of Hannover founded Continental-Caoutchouc & Gutta-Percha Compagnie as a joint stock company. The firm began life with joint stock valued at some 300,000 thalers, an amount equating to a present-day purchasing power of approximately 6.3 million euros, and at its first plant in Hannover a workforce of around 200 produced a range of rubber products including hot water bottles, toy dolls and solid tyres for carriages and bicycles.