Continental Archives - Page 123 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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Reports: Continental Considering Tyre Unit IPO

Continental AG is said to be considering an initial public offering for its tyre unit, according to German business publication Handelsblatt. Citing “unidentified people with knowledge of the plan”, the newspaper appeared to contradict earlier reports in a Business Week interview with the company’s chief financial officer Wolfgang Schaefer that said the company doesn’t need a stock sale until 2012. However, in that interview Schaefer reportedly said: the company’s last stock sale completed in January means it now has financing until 2012 covering its net debt of 8.2 billion euros, which wouldn’t rule out an IPO in time for then.

5th May 2010/by Tyrepress Editors

Continental AG to Hold Off on Stock Sale Before 2012

Continental AG doesn’t need a stock sale before 2012 and there are no plans “in the short term” to resume talks with banks on rescheduling loans, according to chief financial officer Wolfgang Schaefer. According to a Business Week interview, the company’s last stock sale completed in January means it now has financing until 2012 covering its net debt of 8.2 billion euros. “We are not considering at all raising new capital next year. We expect to reach investment-grade status in 2012 and are therefore convinced that the current amount of equity capital is the right one,” Schaefer said.

4th May 2010/by Tyrepress Editors

Conti Adopts EMEA Name for Regional Distribution Network

Continental has adopted the now commonplace acronym ‘EMEA’ – Europe, Middle East and Africa – as the name of business formerly known as Car Tyre Aftermarket Sector Europe and Africa. This change of name is said to have taken place an organisational response to the company’s enlargement of its aftermarket importer and dealer network in the Middle East and Africa regions.

29th April 2010/by Tyrepress Editors

Conti’s SC20 Clean – the Big Cheese at FrieslandCampina

If you’ll indulge, we’d like to talk about cheese for a moment – but bear with us, there is method behind our digression into the world of delicious dairy products…Dutch cheese is, as you are well aware, famous throughout the world. FrieslandCampina Cheese alone makes 1,000 tons of this dairy product every week in the village of Gerkesklooster. In all, the company operates twelve cheese factories in the Netherlands, Belgium and Germany, utilising 1,400 forklifts to store and load its products.

29th April 2010/by Tyrepress Editors

Bridgestone Signs Supply Agreement with Volvo Group

A long-term contract for the supply of original equipment truck tyres has been signed between Bridgestone Europe and Volvo Group. The tyre maker states that the terms of this agreement represent a significant increase in market share for Bridgestone and cover a wide range of truck tyres, including the new Bridgestone R249 EVO and R297 EVO steer tyres.

29th April 2010/by Tyrepress Editors

We’re Back on the Road to Success, Conti Shareholders Told

Addressing the company’s Annual Shareholders’ Meeting, held in Hannover, Germany on April 28, chairman of the Continental AG Executive Board, Dr. Elmar Degenhart, stated “if you wanted to summarise the year 2009, you could boil it down to a simple notion – state of emergency.” The major events affecting the market, he added, resulted in the most dramatic economic crisis in the post-war era.

28th April 2010/by Tyrepress Editors

Continental Back in the Black in Q1

During the three months to March 31, Continental AG achieved sales of almost six billion euros, a 1.7 billion euro year-on-year increase. At 494 million euros, the company’s reported EBIT was more than 650 million euros higher than the comparative figure for the previous year’s quarter. From this total, sales from Conti’s Rubber Group accounted for 2.2 billion of the total, and reported group EBIT was 313 million euros.

28th April 2010/by Tyrepress Editors

Conti Holds Ribbon Cutting Ceremony at California Distribution Centre

The Redlands, California distribution centre opened by Continental Tire the Americas earlier this year is now operating at full capacity, and to mark the occasion an official ribbon cutting ceremony and ‘open house’ was held on April 15. The 46,500 square metre warehouse consolidates the operations of two smaller California based warehouses, and provides Continental with enough space to store and distribute over 450,000 passenger car, light truck and commercial vehicle tyres. Conti estimates that two million tyres will be moved through the Redlands site each year.

23rd April 2010/by Tyrepress Editors

Conti’s European Prices to Rise

As of June 1 prices for Continental’s summer tyres will increase by an average of three per cent and winter tyres by an average of five per cent. The announcement made by the manufacturer on April 21 only refers to the German market, however Dr. Hartmut Wöhler, Conti’s head of Marketing and Distribution for the Car Tyre Aftermarket in Europe and Africa, stated the company is “currently preparing to implement these price increases right across Europe.”

22nd April 2010/by Tyrepress Editors

Conti to Increase US Prices

Blame those rising raw material costs –Continental Tire The Americas has announced price increases of up to six per cent on all Continental, General Tire and proprietary brand passenger car, light truck and commercial vehicle tyres in the United States. Exact increases will vary by product size, and the new pricing takes effect June 1st, 2010.

20th April 2010/by Tyrepress Editors

Month-Long Tyre Workers’ Strike Ends

The strike that had frozen production at Pakistan’s General Tyre and Rubber Company (Gentipak) for a month has come to an end. The industrial dispute at the country’s largest tyre manufacturer, of which Continental is a minority shareholder, began on March 16 after management refused to a accept charter of demands put forward by the workers’ labour union. These demands included wage increases and the appointment of workers to permanent positions.

15th April 2010/by Tyrepress Editors

Conti Offers Clairoix Workers £120 a Month in Tunisia

Multiple news sources have reported details of a recent offer made to workers at Continental’s now closed down Clairoix tyre plant. On March 24, workers from the factory, which has been out of operation since early this year, received a letter from Continental offering them employment in Tunisia. Any enthusiasm the former Clairoix staff may have held towards upping sticks and moving to the North African nation would have quickly evaporated, however, upon reading the remuneration on offer.

14th April 2010/by Tyrepress Editors

Win World Cup Tickets with Conti Online Game

Those with a presence on Facebook are being given the chance to leave their virtual world behind for a few days and enjoy the live action of the 2010 FIFA World Cup South Africa. Official World Cup sponsor Continental AG has launched an interactive online game that gives football fans from around the world the opportunity to win prizes associated with the much anticipated event, and all one needs to participate is to be registered with the popular social media platform.

14th April 2010/by Tyrepress Editors

Volvo Extends Conti Truck Tyre Agreement

Volvo Group Europe has extended its established tyre supply agreement with Continental Truck Tires for a further three years. Continental will remain original equipment supplier for commercial vehicles from all Volvo Group Europe brands until at least 2012. Following the signing of this latest agreement, the German tyre manufacturer mentions that in future, customers will still not have to pay extra to have their vehicles equipped with Continental tyres.

9th April 2010/by Tyrepress Editors

Grouptyre and Continental Kick Off World Cup Competition

Tyre retailers with a love of the beautiful game suddenly have additional incentive to purchase car or 4×4 tyres – Grouptyre has teamed up with official 2010 FIFA World Cup sponsor Continental to present their first joint national retailer incentive, and the top prize in the football themed promotion is a newly launched Sony 46 inch full HD LCD TV complete with home cinema system – perfect for watching the action from South Africa.

9th April 2010/by Tyrepress Editors