Conti CFO Sees ‘Chance’ of CTNA Profit This Year

(Akron/Tire Review) Continental AG expects its North American unit – Continental Tire North America – to post a profit for 2007. According to an AFX report, Conti CFO and CTNA President Alan Hippe said “There is a chance of it,” when asked about CTNA’s expected improvement.

If CTNA does post a profit for the 2007 year, it would be the company’s first in this decade. The company did say that sales growth has been slowed by reduced orders for OE tyres from automakers, reflecting a general downturn in the North American car market.