![]() New Powertrain Division to Meet Requirements of Markets and Customers No further steps need be taken for this at present. Several years ago, Continental undertook preparations, making it possible to create a new legal entity out of this business. The issuance of non-controlling interests, in the form of an IPO for example, is not planned at present but is an option for the future, the company says. This business, which is the nucleus and origin of the 147-year-old Hanover-based company, will continue to be owned by Continental. In the future, the Tire Technologies and ContiTech divisions will be reported as a “group sector” with the new name “Continental Rubber.” The two business areas will continue to specialize in the development of rubber and plastics technology and products. Rubber sector: Continental retains ownership of its nucleus With this alliance, we are opening up new, promising perspectives for our customers, employees, investors and all other stakeholders.”Ĭontinental has planned a restructure to meet future market needs for some time with news of a forthcoming “structural overhaul” surfacing earlier this year. This continues to require pioneering and innovative excellence. In Continental’s successful values alliance for top value creation, we are growing to meet upcoming challenges, remaining competitive now and in the future. Our realignment will make us exceptionally flexible and agile. Our proven readiness and capacity to change give us an outstanding competitive edge which we want to use to the fullest. “We are heading into the future of mobility at full speed. Elmar Degenhart, Continental CEO, this week in Hanover. “This is indeed a historic day for Continental,” said Dr. Their business results will be reported in the future Continental Rubber group sector. Both areas will be supported by a new central Automotive Research and Development function.Ĭontinental’s Tires – which will be called “Tire Technologies” in the future – and ContiTech will retain their independent organizational structure. Their business results will be reported in the new Continental Automotive group sector. Its Chassis & Safety and Interior divisions will also be reorganized and become two business areas – named “Autonomous Driving Technologies” and “Vehicle Networking Technologies” – by 2020. Its partial initial public offering (IPO) is expected to start mid-2019. The reporting structure and the new names will start in 2020. The Powertrain division will become an independent legal entity with a new company name and management by the beginning of 2019. This holding structure will be supported by three strong business sectors – Continental Rubber, Continental Automotive and Powertrain. Continental will establish these business sectors following approval from its supervisory board. ![]() ![]() The company will have a holding structure of Continental AG under the new “Continental Group” umbrella brand. Continental Ag’s top executives are undertaking one of the largest organizational realignments in the company’s history to maximize its potential for expansion in the key future areas of mobility, the company said in a press release. ![]()
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