CTNA “Going Well”, Says Dr. Hippe

According to comments made by Continental AG CFO Dr. Alan Hippe, the company appears satisfied with the performance of its Continental Tire North America unit during the first financial quarter. Thomson Financial news reports that, on the sidelines of the company’s annual shareholder meeting, Dr. Hippe reported “the business is going well.” He further commented that the US tyre market had suffered less from the effects of lacklustre consumer spending and the US sub-prime load crisis than had been feared. While Dr. Hippe made mention of indications the market is starting to recover, he said the company cannot rule out further price rises this year to offset raw material costs.