Continental Ends Hanover Passenger Tyre Production
Continental AG has announced that it will reduce the number of staff working at its Hanover-Stöcken plant by 10 per cent, by the end of 2006. The job losses will affect 320 tyre production employees.
“The unexpectedly weak growth in passenger tyre sales…left us no other choice in the end but to schedule discontinuation of passenger tyre production in Stöcken as of 31 December 2006 and to demonstrate cost-optimised flexibility at other plants by cutting back the number of shifts,” said Manfred Wennemer, chairman of the executive board of Continental AG and board member responsible for the Passenger and Light Truck Tires division.