Continental Archives - Page 154 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 Extends Sizes on HSC1/HDC1 Construction Tyre

Continental has released a bevy of new sizes on its range of next-generation construction tyres for both on and off-road applications. The HSC1 pattern – with its optimised tread design that minimises stone strapping – is now available as a steer or a drive tyre (HDC1) in 295/80R22.5, a key size in UK and Ireland.

The tyre also boasts a reinforced belt construction and a deep tread pattern – which provides better protection from damage, high mileage performance on-road and precise steering and traction on all other surfaces. The HDC1 – the HSC1’s cousin – provides better tread depth than its predecessor, in addition to all the benefits of its steer counterpart.

Conti’s tyres are sold and distributed through ContiNetwork Partners, a group that represents the largest independent tyre dealer network in the UK and Ireland.

19th September 2008/by Tyrepress Editors

UPDATE: Continental Complete Spikes Acquisition

Having attained the approval of antitrust authorities, Continental has completed the acquisition of all shares in the Finnish spikes manufacturer TIKKA Spikes Oy, along with its Russian subsidiary OOO TIKKA, based in St. Petersburg. Financial details of the takeover have yet to be released.

18th September 2008/by Tyrepress Editors

Conti Introduces Security Features to Prevent Counterfeiting

In future, ATE branded aftermarket automotive products from Continental will be absolutely identifiable as ATE original replacement parts, the manufacturer promises. To ensure workshops and retailers know that they are using original ATE replacement parts, and passing these on to end customers, the products now feature a two-stage security concept that enables their unique identification. The TecIdentify security code gives products on the open replacement part market a worldwide unique and piece-individual identification number, and the tesa Holospot security technology protects this code from being reproduced or imitated.

17th September 2008/by Tyrepress Editors

Bad Boy Adds Conti to Online Product Range

Bad Boy Tires.com, the online tyre retailer in the USA, has made Continental’s products available at its online store, enhancing its brand strategy for online tyre sales.

Jim Seidel, the former Director of Sales for Continental Tire North America, is head of Bad Boy Tires.com, and expects e-tailing to be a growth area for the tyre market: “We are growing our online tire sales business very rapidly and our customers are increasingly requesting tires that they had on their new vehicles as original equipment. As the former director of sales at Continental I know first-hand the strength that the brand enjoys at the O.E. level.”

16th September 2008/by Tyrepress Editors

Conti Predicts 8.5% EBIT this Year

Continental AG says it expects pre-tax profits (EBIT) of about 8.5 per cent this year, despite an earlier prediction of 9.3 per cent. The company, which recently gained a new leading shareholder – ball bearing maker Schaeffler Group – put the profit warning down to the “substantial worsening of the economic environment on the vehicle markets in North America and Europe in the third quarter and the unchanged high burdens from increased raw material cost.” The company maintained its 2008 sales projection of 26.4 billion euros.

15th September 2008/by Tyrepress Editors

Conti Cutting European truck tyre Production by 6.5%

Continental is reportedly cutting back production at its three European truck tyre factories by 6.5 per cent. A company statement stated that “the entire European replacement business recorded a drop of almost 10 per cent in the first eight months of this year, without any sign of improvement.” In response, says Conti, output will be cut to compensate for losses in its volume.

15th September 2008/by Tyrepress Editors

Nokian Stock Plunges

Shares in the world’s most profitable publicly traded tyre manufacturer (according to Bloomberg), Nokian Renkaat Oyj, have experienced a sharp decline alongside most Russian stocks following the descent of the ruble in recent days. The company currently enjoys a 30 per cent share of Russia’s premium replacement market, though overtures from Bridgestone and Pirelli – who have earmarked 250 million euros for a joint venture in the country with Russian Technologies – sound out a threat to the stability of that figure.

Mika Leskinen, a fund manager at Pohjola Asset Management of Helsinki stated that “competition is set to intensify” and that reasons for the stock’s fall included a massive 37 per cent rise throughout May and the recent Russian military intervention in Georgia. He suggests that analysts recommending the stock and raising earnings estimates had been a little “too optimistic”. Bloomberg’s straw pole of 15 banks however suggests that analysts are still happy to get behind the stock, with only London-based Merrill Lynch analysts suggesting their sale.

12th September 2008/by Tyrepress Editors

Continental Wins MAN Trucknology Supplier Award

Continental Truck Tyres has won the Trucknology Supplier Award presented by MAN. Marking the award the MAN Nutzfahrzeuge citation noted: Continental AG’s “enormous reliability in terms of meeting deadlines and maintaining quality,” adding: “Furthermore, Continental has often been able to intervene at short notice where supply shortages have arisen, and thus played a major role in ensuring that we had tyres for all our vehicles in 2007.”

MAN grants a Trucknology Supplier Award to up to 10 suppliers every year, evaluating reliability, efficiency, innovation, technical competence, quality, cost, and logistics. Vehicle development and tyre design are coordinated from the outset to ensure that new products can roll out on time.

10th September 2008/by Tyrepress Editors

General Tyre Tanzania Plant at a ‘Crossroads’

International News

The fate of General Tyre Tazania is still hanging in the balance, having closed in April last year. Local newspapers are reports that the government is not likely to bail it out unless the last investor, Continental Tyres, accounts “for the $10 million it was advanced in 2002 to revive production.”

9th September 2008/by Tyrepress Editors

Andrew Mabin Promoted to Mitas Sales & Marketing Director

Andrew Mabin, formerly the head of Mitas a.s’s UK sales subsidiary, has been promoted to position of sales and marketing director Mitas a.s. The new role will see Mabin take responsibility for both the company’s replacement and OEM activities worldwide effective 1 September 2008. Mabin replaces Werner Flebbe who goes into retirement in October 2008.

8th September 2008/by Tyrepress Editors

Continental to Complete Spikes Acquisition

Continental are to complete the acquisition of all shares in the Finnish spikes manufacturer TIKKA Spikes Oy, along with its Russian subsidiary OOO TIKKA, based in St. Petersburg.

Lothar Salokat, the director of Conti’s Korbach plant in Germany, stated that, “The deal will strengthen Continental’s winter tyre business as well as its position in Scandinavia and Russia. It is our intention that cooperation with other tyre manufacturers will continue via TIKKA Spikes.” TIKKA Spikes provides employment in Tikkakoski and St Petersburg for approximately 120 people. The TIKKA group states that “they will continue in the service of the new owner as workers of long standing.” The company’s estimated turnover is approximately 15 million euros for this year.

5th September 2008/by Tyrepress Editors

Conti Secures Sponsorship Deal for World Cup Qualifiers

As an official sponsor of the 2010 FIFA World Cup in South Africa, Continental AG has secured significant television coverage for itself during the 260 qualification group matches to be played in Europe. Continental will appear on four of the advertising hoardings in the stadiums used for more than 170 matches, and the television images broadcasted around the world will extend Conti’s presence to millions of TV screens.

4th September 2008/by Tyrepress Editors

Schaeffler Reaches 48.32% Continental ‘Takeover Target’

With its takeover offer acceptance period now over, and Schaeffler Group now in control of 48.32 per cent of Continental AG, the ball bearing maker is already talking of partnership pitches to vehicle manufacturers.

“This result is a great success for us. We have reached our target of gaining a strategic shareholding of more than 30 per cent in Continental AG. This means that talks can begin with Continental as soon as possible about cooperation projects to realize market opportunities for both companies by consolidating expertise in development and innovation.

3rd September 2008/by Tyrepress Editors

Antitrust Authorities Give Green Light to Conti Oltas Acquisition

After the approval of the Turkish antitrust authorities in late August Continental AG has acquired 89.66 per cent of the shares in Oltas SPA headquartered in Istanbul, Turkey. Oltas is Continental’s exclusive tyre distributor for the Continental, Uniroyal and Barum passenger car and commercial vehicle tyre brands in Turkey.

“We are glad about this quick approval process. Now we will improve our market position for commercial vehicle and passenger car tyres in Turkey and in Eastern Europe overall significantly step by step,” said Dr. Alan Hippe, Executive Board member responsible for the Passenger Car Tire division.

1st September 2008/by Tyrepress Editors

Analyst Recommendation Cut on Continental

As Merrill Lynch’s Michelin recommendation was upgraded to see in the new month, Continental’s was cut to “underperform” from “neutral”. The bank believes that Continental’s stock will see a fall to 60 euros in the coming weeks, after the expiration of Schaeffler’s offer to buy at 75 euros per share until reaching nearly half of the company’s total stock. Conti was down 0.1 per cent (5 cents) today at 74 euros in Frankfurt.

Merrill also links Conti’s predicted drop to Michelin’s rise, suggesting that investors who sell their shares in the German company could seek to invest in its rival in France.

1st September 2008/by Tyrepress Editors