Continental Archives - Page 227 of 228 - 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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Significant Changes In The European Tyre Markets?

During a press conference in Romania, Continentals’ CEO Dr. Kessel predicted very significant changes in the European original equipment markets. He pointed out that the consequences regarding the Firestone tyre recall will also have a great impact in Europe. Kessel believes that Firestone will lose many contracts and, among others, the Continental group would benefit and he added that there were already clear signals. But, signals yes or no, the Continental share price has fallen and it will be interesting to see whether news like this will stimulate the shares.

7th December 2000/by Tyrepress Editors

Continental Ends Champions League Sponsorship

At the end of this season’s competition, Continental will cease its sponsorship of football’s European Champions League. The company has been a major sponsor of the competition for the past five years.

7th December 2000/by Tyrepress Editors

Market Expects Record Sales For Conti

Rumours in the tyre market anticipate record sales for the Continental Group of almost 9 billion Euros for 1999, mainly due to the integration of Teves. This rise also presents a 30% increase in EBIT to around 520 million Euros. Exact figures were made available in early April.

7th December 2000/by Tyrepress Editors

High Targets: Continental Group To Doube Its Sales Within 5 Years

The German group remains on expansion track and sees itself not as a tyre manufacturer, but as a system integrator for the automobile industry. The management will double the group turnover of 10 bn Euro within the next five years, said CEO Kessel these days in Detroit.

7th December 2000/by Tyrepress Editors

New Managing Director at Vergölst

Frank Jung (40) will take over as Managing Director at the Conti subsidiary Vergölst, following the departure of Andreas Scheiba. Jung was previously responsible in-house for the German tyre replacement business at Continental.

7th December 2000/by Tyrepress Editors

General Motors Award For ContiTech

After last year’s success, Continental’s business unit ContiTech has again been awarded “Supplier Of The Year” by the American General Motors Corporation. ContiTech Vibration Control won the prize for supplying damping elements for the engines of Opel’s Astra, Omega and Vectra.

7th December 2000/by Tyrepress Editors

Sales Target Of 10 bn Euro In 2000 For Continental Achievable

The German group aims to achieve 10 bn Euro in sales this year. After having presented the half year figures for 2000 this is still likely, but they cannot improve the Earnings previously predicted. While Teves and ContiTech are in EBIT better than last year, the truck tyre division could improve the EBIT by five million to 33 million Euro. The p.c-tyre division is 24 million Euro in EBIT below the first half of 1999 despite an increase in sales of 4%. The situation with General Tire is poor. The company’s sales climbed by 23% (in dollars only by 8%) but the EBIT is 20 million Euro below the comparable time last year. General Tire will have difficulties avoiding red figures this year.

7th December 2000/by Tyrepress Editors

New Industrial Tyre Innovation From Continental

Continental has announced the development of a new concept for industrial tyres which combines the benefits of both solid and pneumatic tyres. It will be produced under the brand name of SFR 3000.

7th December 2000/by Tyrepress Editors

Another Electronic Platform

Continental AG and Robert Bosch GmbH, together with a number of other companies, intend to create an electronic communication and transaction exchange. The reason is to simplify and speed up business transactions between automotive companies and their suppliers.

7th December 2000/by Tyrepress Editors

Top Spot Again For Michelin In US Survey

In the US, J.D. Power and Associates conducted an OE tyre satisfaction survey among 31,000 buyers of new vehicles. Michelin came top in the car and minivan category for the third year running and won the light truck category (including pickups and SUVs) for the second consecutive time. Runners-up in the car segment were (in order) Continental, BFGoodrich and Dunlop. In the light truck category, Michelin was followed by Dunlop, BFGoodrich and Firestone. The survey took place before the Firestone tyre recall.

7th December 2000/by Tyrepress Editors

Strike Ends At General Tire

Employees at Continental General Tire’s plant in Bryan, Ohio USA have signed an agreement ensuring an increase in wages and pensions plus a regulation of working time (a four shift programme, seven days a week) up to the year 2006. The same agreement will apply in Charlotte, General Tire’s largest plant in North America, where employees had been on strike for over a year to achieve these improved conditions. Continental’s workforce has diminished from 1,450 to around 1,300 following the strikes.

7th December 2000/by Tyrepress Editors

Hans-Joachim Brand Leaves Continental

Hans-Joachim Brand (53), who, until the end of 1999, was responsible for the British tyre retail chain NTS, left Continental last month.

7th December 2000/by Tyrepress Editors

Six Percent More For Continental Tyres

Continental Commercial tyre prices increased by seven percent in August. Effective 1st November, prices for passenger car tyres (summer and winter) and light truck tyres are to rise six percent. Higher costs for raw materials, oil and chemicals, as well as more expensive energy and distribution costs, are the reasons for this decision. The company cannot continue to absorb rising costs without passing them on. The retailer’s situation is comparable. “Our decision provides an opportunity for the retailers to improve the gross profit in their own field”, Jescow von Puttkamer told NEUE REIFENZEITUNG.

7th December 2000/by Tyrepress Editors

Phoenix Long-Term Ambitious

Phoenix, supplier to the vehicle industry, itself a tyre manufacturer many years ago and still specialising, though not exclusively, in rubber parts for the automobile industry, is not reaching its turnover and profit targets as quickly as planned. Air springs, an area in which Continental is also involved, however, promises to develop into a jewel for the group from 2001 and gives ground for hope of steep rises in turnover and earnings in the long term.

7th December 2000/by Tyrepress Editors

Online-Tyreshop From Continental

During the annual shareholders meeting of Continental, the tyre manufacturer announced that it is going to build up an online tyre shop which will go live at the beginning of next year. At first he offer will contains passenger car tyres and service, and later complete wheels and car accessories will be included.

7th December 2000/by Tyrepress Editors