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You are here: Home1 / Continental AG

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Continental creating ‘Autonomous Mobility’ business area

Company News

During its meeting yesterday, the Continental AG Supervisory Board agreed upon an “important phase” in the company’s transition from tyre maker to mobility supplier. From 1 January 2022, Continental will elevate its business with systems for advanced driver assistance and automated driving into its own business area within its Automotive Technologies group sector.

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Related news:

  1. Continental’s Setzer appointed to new Automotive role; Kötz named Tire division head
  2. German technology substituting football: Continental launches new global campaign
  3. Continental CEO Degenhart resigns
  4. Nikolai Setzer takes over as Continental CEO
17th March 2021/by Stephen

Continental CEO Degenhart resigns

Career Tracks, Company News

Although his contract has almost another four years to run, Dr Elmar Degenhart has notified Continental AG of his intention to step down as chief executive officer and as director of the Continental Executive Board. Dr Degenhart’s decision to take leave of the company on 30 November 2020 is based upon “reasons of immediately essential preventive health care,” he informed Continental’s Supervisory Board yesterday. In the near future, Professor Wolfgang Reitzle will convene the Supervisory Board to decide upon the appointment of Degenhart’s successor.

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Related news:

  1. Supervisory Board approves Continental realignment
  2. Continental discussing ‘need for action’ with employee representatives
  3. Continental to expand restructuring programme to save 1 billion euros by 2023
  4. Continental parting ways with human resources head
30th October 2020/by Stephen

Continental delays Vitesco spin-off

Company News, International News

On 1 May Continental AG said it will delay spin-off of its powertrain business Vitesco Technologies. Rather than executing that plan in July, as had been planned, the automotive supplier said it will pursue the listing of its powertrain subsidiary business when market conditions improve.

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Related news:

  1. Conti rated as ‘buy’ for ‘best cost base’ in the tyre business
  2. Analysts highlight ‘difference in momentum’ between Continental and Michelin results
  3. Schaeffler cuts IPO following VW scandal
  4. Continental AG measures ‘encouraging’, but R&D budgets and European tyre factories could be cut – analysts
4th May 2020/by Chris

Continental stops production in some factories

Company News

Tyre maker and automotive technology company Continental has ceased production in some of its plants until further notice. It informed the Frankfurt Stock Exchange of measures put in place to adjust production around the world in response to the spread of the coronavirus and the effect of this upon vehicle production. Continental confirmed that its adjustments include complete production stops in some cases.

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Related news:

  1. Another New Continental?
  2. Conti to Boost Junior Staff Numbers in 2010
  3. Conti CEO warns staff of job cuts
  4. Conti: Corona bridge concept will save jobs
20th March 2020/by Stephen

Continental’s Setzer appointed to new Automotive role; Kötz named Tire division head

Career Tracks

At a meeting on 14 March, the Supervisory Board of German tyre and automotive systems maker Continental approved the next stage of one of the largest organisational changes in its history. Several new appointments at Executive Board level were announced, including the transfer of Nikolai Setzer to the company’s Automotive Group.

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Related news:

  1. Continental reorganises top management within Tire division
  2. Taraxagum – Continental unveils brand name for dandelion tyre rubber
  3. Preparing for re-entry: Continental returns to agri tyres with Project LousAgro
  4. Hoosier Racing Tire now a Continental company
18th March 2019/by Stephen

Continental revises H1 2018 outlook

Company News

First half 2018 earnings at Continental AG are now expected to be around 150 million euros less than previously projected, the company reports. To blame for this negative development are exchange rate and inventory valuation effects, primarily in Continental’s tyre business. In response to anticipated lower earnings, Continental has revised its outlook for adjusted operating result (adjusted EBIT) within its Rubber Group for the period – this is expected to be around 100 million euros lower than in the first half of 2017.

Read more

Related news:

  1. Another New Continental?
  2. Continental stops production in some factories
  3. Continental delays Vitesco spin-off
  4. Continental’s Setzer appointed to new Automotive role; Kötz named Tire division head
19th April 2018/by Stephen

Schaeffler cuts IPO following VW scandal

Company News, International News

In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.

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Related news:

  1. Is Schaeffler considering another Conti share purchase?
  2. Triangle IPO underway
  3. Reports: Pirelli IPO set for October
  4. Pirelli IPO marks landmark in new ownership structure
12th October 2015/by Tyrepress Editors

Is Schaeffler considering another Conti share purchase?

Company News

Schaeffler, the family-run ball-bearing maker and largest shareholder in Continental AG, is reportedly considering a multi-billion euro IPO for its ball-bearing business in what could be a prelude to a further purchase of Conti shares.

The Wall Street Journal (WSJ) has led coverage of the recent financial manoeuvres between Conti and Schaeffler, however financial analysts and other commentators lend credence to the view that purchasing Conti stock could be the endgame.

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Related news:

  1. Schaeffler cuts IPO following VW scandal
  2. Another New Continental?
  3. Darren Wells sells $1M of Goodyear shares
  4. Continental delays Vitesco spin-off
22nd January 2015/by Tyrepress Editors

Conti appoints Ralph Lauxmann as Head of Systems & Technology

Career Tracks, International News

As of 1 January 2015, Ralph Lauxmann will take over as head of Continental’s Systems & Technology in the Chassis & Safety division headquarters in Frankfurt. He will report directly to Frank Jourdan, head of the Chassis & Safety division and member of the executive board of Continental AG and functionally to Christian Senger, Head […]

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Related news:

  1. Brembo president to enter Automotive Hall of Fame
  2. A maturing industry
  3. Daniele Schillaci appointed Brembo CEO
  4. Meritor names Chris Villavarayan as EVP and COO
3rd December 2014/by Tyrepress Editors

Another New Continental?

Company News

July saw all the leading tyre manufacturers report lower than expected earnings as a knock-on effect of high raw material prices and lower new vehicle demand. Everyone saw this coming. The 11.3 billion euro “sneaking” bid ball bearing maker Schaeffler Group pitched to buy Continental AG was distinctly less predictable. In the days that followed Continental’s management went on the defensive and cried foul to financial regulator Bafin, making what had up till then been the largest takeover bid in Europe into the largest hostile takeover the continent has seen this year.

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Related news:

  1. Conti’s Rearguard Action Takes Shape
  2. We’re Back on the Road to Success, Conti Shareholders Told
  3. Schaeffler Preparing For Conti Merger
  4. Far Reaching Agreement
5th August 2008/by Tyrepress Editors

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