Private Brand Platin
Platin is the private brand of German wholesaler Interpneu (Karlsruhe). Continental replaces the former producers.
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.”
Posts
MMP-Factory In Timisoara Opens
Product NewsIt was the biggest day in Timisoara since the revolution, and it will perhaps set off another – this time in the tyre industry. The new tyre production facility was opened 20th October by Continental president, Dr Kessel, and Romanian Prime Minister, Mugur Isarescu, the latter facing the possibility of losing office in the coming election. Amongst the 400 attending the opening were representatives from Continental’s key suppliers and selected customers, as well as German and Romanian journalists. When the factory has reached its final stage it will produce 8 million car tyres a year, employing about 1,000 people. The article in November’s TYRES & ACCESSORIES shows that the factory tour revealed little new; we were shown assorted Japanese vulcanising equipment and ancillary machinery, but the state-of-the-art tyre construction machines were still under wraps. The iron curtain may have fallen, but for now there is a rubber curtain round the new technology at Timosoara.
Continental Shares Like Lead
Product NewsDespite excellent results and an on-going buy recommendation from Deutsche Bank, Continental shares are not rising. The management has announced that the “intelligent tyre” is to be fitted as OE from 2003 but refuses to name the car manufacturer. The management also feeds speculation regarding a joint venture partner for brakes in Asia. Will this help the share price to rise?
Is Continental Facing A Hostile Takeover Bid?
Product NewsAn article in the German magazine Wirtschaftswoche suggests that the Thyssen-Krupp group is planning a take-over bid for Continental. Whether or not this is the case, it throws up some interesting possibilities and our article analyses whether such a course of action is feasible and what it would mean to Continental. The article also examines what the effects would be on the European tyre market and how the big tyre manufacturers might react to such an eventuality. Should Thyssen-Krupp mount a successful bid, the chances are that it might decide that Continental’s tyre division is surplus to requirements. Given such a situation, the implications for companies such as Michelin, Bridgestone and Pirelli are enormous and the article explores the different scenarios that might arise from such a course of action and the defensive measures that the tyre giants might take. Is the Thyssen-Krupp bid a figment of the imagination, or an attempt to boost Continental’s share price? The article concludes that Continental is a tempting target for a takeover bid (by somebody) and that its recent strategy makes the group more defenceless than in the past.
The End Of A Long Lasting Partnership
Product NewsDeutsche Bank has announced that it will sell-off its industrial holdings which are worth about 40 billion Euro based on current share prices. This move has been made possible by recent German tax reform, effective from 2002, which makes capital gains by corporations tax free. The Bank has an 8 p.c. stake in the German tyre manufacturer Continental which is presently worth about 200 million Euro.
Share Prices At A Low Point
Product NewsWith the exception of Peugeot, Porsche and Beru, other share prices from automobile and tyre companies have fallen to an all-year low. Companies in this category include DaimlerChrysler, Volkswagen, Kiekert, Delco Remy, Delphi, Phoenix and Johnson Controls, as well as Continental, Cooper, Yokohama, Toyo and Goodyear.
Michelin Aims At Increasing Share In HP Sector
Product NewsMichelin intends to increase its share of the growing and highly profitable high performance market. Any gain of market share would be at the expense of Pirelli and Continental.
Bridgestone Announces US Price Hike
Product NewsBridgestone is to join Goodyear, Continental, Michelin, Cooper, Pirelli, Yokohama and others in raising tyre prices in the USA to compensate for raw material price increases. Effective June 1st, Bridgestone tyre prices will rise 4%. Historically, Bridgestone has taken advantage of other manufacturers’ price increases in order to gain market share, so this latest announcement seems to indicate that this time the price rises will stick.
Top-Executive Succession At Continental AG
Product NewsDr. Wolfgang Ziebarth (50), former member of the Board of Management of BMW AG, will be appointed to the company’s Executive Board with effect from October 1st, 2000. In December, Dr. Ziebarth is to assume responsibility for the Continental Automotive Systems Group, thus succeeding Hans Albert Beller (62) who is to begin his planned retirement after building up the unit for the past seven years.
Michelin Out Of The CAC 40?
Product NewsThere is speculation among analysts that Michelin and Valeo could be dropped from the CAC 40. Continental has been ousted from the DAX Index and Goodyear from the Dow Jones Index recently.
Peter Schwerdtmann Leaves Continental
Product NewsPeter Schwerdtmann (52), spokesman of the Continental Group is leaving the company. The name of his successor has not yet been announced.
Significant Changes In The European Tyre Markets?
Product NewsDuring 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.
Go West – Continental For NYSE
Product NewsIn 1999 Continental’s turnover and EBIT “only” rose around 35 % while for the same year a 70% increase in net profits to 234.7 million Euros (1998: 138.2 million Euros) is reported. Therefore Conti boss Dr. Stephan Kessel is some kind of “disappointed and astonished” with regard to the performance of the company’s shares. May this be another reason why Continental has revealed that it would float its shares on the New York Stock Exchange some time within the next three to five years?
High Targets: Continental Group To Doube Its Sales Within 5 Years
Product NewsThe 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.
Continental Ends Champions League Sponsorship
Product NewsAt 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.
