Continental Archives - Page 112 of 229 - Tyrepress

Hannover-based Continental AG is a leading automotive supplier and – according to the company – is “the choice of leading car manufacturers, offering award-winning tyres that deliver responsive braking in all weather conditions.”

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Conti completes final stage of VDO loan refinancing

The Continental Corporation reports it has successfully completed final stage of its “comprehensive refinancing programme.” On March 29, the automotive supplier agreed to new terms and conditions for its VDO loan for an original financing volume of 6.5 billion euros, maturing next year. The new package features a credit volume totalling six billion euros: One loan tranche of 625 million euros will mature in August 2012, a further tranche of 2.875 billion euros plus a revolving credit facility amounting to 2.5 billion euros have a term of three years. Financing will be provided by more than 35 banks; Continental states it was “significantly oversubscribed.”

30th March 2011/by Tyrepress Editors

Price increase for Conti’s Asia-Pacific replacement business

The second quarter of 2011 will begin with price increases for a number of Continental Tires’ products in the Asia-Pacific replacement market. Prices of Continental branded passenger and light truck tyres will rise by up to five per cent, while truck and bus radials will be subject to price increases of up to six per cent. Other Continental owned brands face increases of up to nine per cent. The tyre maker says specific details of percentage increases and the timing of their introduction will be “communicated locally across the region.” In announcing the increases, Continental points to the rising costs of raw materials as the primary reason behind its need to review prices.

29th March 2011/by Tyrepress Editors

Analysts: Schaeffler moves point to “no merger”

Financial analysts from Deutsche Bank described Schaeffler’s decision to pay down debt and increase its direct ownership and free-float in Continetal as “good news”, pointing out that “the overhang is now over.” Crucially, these analysts wrote that these moves signify that “there will be no merger between Schaeffler and Continental.”

For its part Deutsche Bank said Schaeffler’s moves are good news because these bring the firm’s overhang – when market forces put downward pressure on stock prices due to the likelihood of a sale – is now said to be over. “After full-year 2010 results we and the consensus upgraded earnings per share by 20 per cent, [an] upgrade which had no impact on the share price (due to the overhang)…this disposal clarifies the structure of Schaeffler/Continental.”

28th March 2011/by Tyrepress Editors

Continental names commercial sales manager

Mark Kerswill has joined Continental Tyre Group as truck sales manager with immediate effect. 47-year-old Kerswill brings 22 years of sales experience at both Michelin and Bridgestone to the company’s UK and Ireland commercial sales team and is responsible for the East Midlands and North East England.

28th March 2011/by Tyrepress Editors

Schaeffler reduces debts, increases direct Conti stake to 49.9%

Schaeffler Group has confirmed a series of measures re-financing the company by reducing detbs by around 2.8 billion euros and re-positioning itself in relationship to Continental AG. Following a string of news reports suggesting the moves were on the horizon, the company issued a statement on 28 March confirming it is selling approximately 29.7 million indirectly owned shares in Continental AG, increasing its directly owned stake from 42.2 to 49.9 per cent and is converting into a stock corporation (from Schaeffler GmbH to Schaeffler AG) this year. Continental shares reportedly rose 1.6 per cent during trading on Monday 28 March in response to the news.

28th March 2011/by Tyrepress Editors

Potenza S001 OE for Audi A1

Bridgestone has confirmed its Potenza S001 is being supplied for original equipment fitment on Audi’s A1. Deliveries of the tyre in size 225/35 R18 87W began last September, the fourth OE supply deal for the Potenza S001 since its launch in February 2010. The Bridgestone tyre is also supplied to the Audi RS5, Aston Martin Rapide and Ferrari 458 Italia. Continental also supplies original equipment tyres for the Audi A1; in February 2011 it reported supply of its ContiSportContact 3 and the ContiPremiumContact 2 tyres in 15, 16 and 18-inch sizes.

25th March 2011/by Tyrepress Editors

Conti to raise European consumer tyre prices

Rubber prices have bounced back, so to speak, following their recent, short-lived dip, and it is no surprise that tyre makers continue to announce price rises for their products. The latest to do so is Continental, who as of May 1 will increase prices for summer tyres by between five and eight per cent and winter tyres by eight and ten per cent. This price adjustment affects all of the company’s passenger and light commercial vehicle tyre brands in the European replacement market.

24th March 2011/by Tyrepress Editors

Conti HD Hybrid wins Spanish tyre of year award

Continental reports its HD Hybrid commercial vehicle tyre has beaten off the competition – namely the Bridgestone Ecopia, Goodyear Marathon LHT II, Hankook E-Cube, Pirelli ST:01 and Dunlop SP 244 – to be named “Neumático del Año en España 2011”, or tyre of the year, by Spain’s Grupo Tecnipublicaciones. This award in the commercial vehicle category of the publishing group’s Madrid-based annual awards was presented to Conti truck sales manager Juan Uruburu and truck marketing manager Frank Deuter. Continental states that, in presenting this award, the jury acknowledges the “commitment of tyre manufacturers to advanced tyre technologies that increase safety, minimise wear, improve environmental compatibility and generally make a contribution to reduced fuel consumption.”

23rd March 2011/by Tyrepress Editors

Conti’s European CV tyre prices to rise in May

According to Continental, the cost of natural rubber rose fourfold between January 2009 and February 2011 to a record high of more than US$5.60 per kilogram and the current yearly average price has remained at $5.40. Due to this ongoing increase and the rise in other raw material costs, the tyre maker will increase its prices for commercial vehicle tyres in Europe on May 1.

17th March 2011/by Tyrepress Editors

Continental announces aid for Japan

German tyre and automotive component manufacturer Continental AG has donated 250,000 euros in emergency aid for those living in the regions of Japan destroyed by the earthquake and tsunami. Referring to recent developments, company CEO Dr. Elmar Degenhart said “our thoughts are currently with the people of Japan who are living through one of the country’s worst crises. Management and employees alike have been devastated by the disaster and its consequences.

15th March 2011/by Tyrepress Editors

New head of Conti CV tyre PR announced

Continental’s Commercial Vehicle Tires division has a new head of global public relations. Dr. Christiane Pfeiffer, formerly in charge of international marketing communications for truck and bus tyres at Continental, has replaced Udo Brandes in this role. Brandes, aged 64, intends to retire in May after six years at Continental and until this time will work for the Commercial Vehicle Tires division in an advisory role.

15th March 2011/by Tyrepress Editors

New Conti brand communication strategy targets changing demographics

A complete review of Continental’s passenger car tyre segment brand communication strategy has been carried out and the tyre maker reports that a resultant new global campaign is already starting to be implemented online in some markets. The new strategy is, says Conti, “integrated and highly target-group specific.” What this means is Continental recognises that “in the years to come, women and families will increasingly become one of the most important target groups alongside the still mainly male tyre buyers.” Thus the new campaign will focus on both female and male drivers, with and without children and in different driving situations.

9th March 2011/by Tyrepress Editors

Conti raising US truck tyre prices

Continental Tire the Americas will increase prices on all Continental, General and Ameriseal brand commercial vehicle tyres by 10 per cent, effective April 1. Citing the continued escalation of raw material and energy costs, the tyre maker said the increase will affect all replacement sales channels in the US.

9th March 2011/by Tyrepress Editors

Nokian shod Audi breaks world ice speed record

It probably comes as no surprise that the fastest man on ice is a Finn. Nokian Tyres test driver Janne Laitinen set a new world speed record for driving a car on ice on March 6 when he nursed his Audi – shod with size 255/35R20 97 T XL studded Hakkapeliitta 7 tyres – up to 331.61 km/h (206.05 mph) on a 14 kilometre track laid out on the frozen Gulf of Bothnia near the city of Oulu.

8th March 2011/by Tyrepress Editors

EC approves switchable battery research project

Automotive supplier Continental and ten other European and Israeli companies active in the electric vehicle sector, have joined together to form ‘Easybat’, a consortium dedicated to furthering EV development. On March 2 the consortium announced formal approval from the European Commission for a research and development programme into means of facilitating the European production of electric cars with switchable batteries. The March 2 announcement is the first switchable battery electric car project approved by the Commission.

4th March 2011/by Tyrepress Editors