Continental Archives - Page 92 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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Significant higher Conti profits expected in Q3, say analysts

On 31 October Continental AG will host a conference call and tyre division investor day to coincide with the release of the company’s third quarter results. Analysts at Deutsche Bank anticipate that Continental will report revenues of 8.1 billion euros for the quarter, a five per cent year-on-year increase. Other expected results include an adjusted EBIT of 844 million euros – the analysts note that this projected 13 per cent year-on-year growth is driven by Conti’s tyre business – and a net profit of 401 million euros, up 90 per cent on a year earlier.

18th October 2012/by Tyrepress Editors

Eric Le Corre new BTMA chairman

Michelin UK managing director, Eric Le Corre, has been elected as the new chairman of the British Tyre Manufacturers Association (BTMA) at a recent Board meeting. The new chairman-elect replaces Continental Tyre managing director David Smith whose two year chairmanship ended recently. Le Corre will also represent the BTMA on the board of the Tyre Industry Federation (TIF). He brings with him 14 years experience in the business and takes over with immediate effect.

18th October 2012/by Tyrepress Editors

Michelin scoops two TAFF awards

Michelin has won two prestigious Tyre and Fast-Fit (TAFF) awards at this year’s ceremony held by the National Tyre Distributors Association (NTDA) held on 10 October in Manchester. The company picked up both the Industry Advertising award and the Product Innovation award at the association’s annual dinner hosted this week in Manchester.

17th October 2012/by Tyrepress Editors

Slow European demand/Nokian profit warning leads to share price drops

Shares in Nokian Tyres fell by as much as 12 per cent following a profit warning issued by the company today (16 October 2012). According to Bloomberg, the fall was the biggest drop since 5 August with prices tumbling to 29.94 euros (down 11 per cent) as of 15:08. But it didn’t stop there and instead the market experienced a degree of negative contagion following this news and similarly gloomy demand projections from European tyre makers.

16th October 2012/by Tyrepress Editors

Happy birthday, speedometer

This week an important automotive component celebrates its 110th birthday. No, it’s not the pneumatic tyre – John Boyd Dunlop is credited with its creation in 1887 – the birthday kid is the speedometer. To mark 110 years of its existence, automotive supplier Continental has released a text explaining where the speedometer came from, how it works and where it is heading:

12th October 2012/by Tyrepress Editors

Bridgestone aiming to be the “best and most profitable” in Europe

It’s only a few months since German financial daily the Handelsblatt referred to Hankook as “an aggressive challenger” to Continental. On 9 October the newspaper reported on a challenge facing the German tyre maker from other quarters. In an interview, a senior Bridgestone manager let it be known that the global market leader also wants to play a leading role in Europe in future.

10th October 2012/by Tyrepress Editors

2011 a ‘peak’ year for winter tyre sales

Statistics shared at Continental’s recent European ContiWinterRoadshow indicate that a total of 73.8 million winter passenger car and 4×4 tyres were sold in Western Europe last year and a further 18.7 million in Central Europe. These figures are up 12.8 per cent and 10.7 per cent year-on-year respectively. Last year’s sale of 92.5 million units is viewed as a ‘peak’ for winter tyres; Continental says it expects sales to stabilise at around 90 million by 2015. This year, the German manufacturer anticipates that both the Western and Central European markets will experience a moderate decline; it estimates 65.8 million winter passenger car and 4×4 tyres will be sold in Western Europe and 17.7 million in Central Europe.

9th October 2012/by Tyrepress Editors

Mercedes-Benz World and Continental Tyres: Partnering Excellence

Continental Tyres has been named as “Partner in Excellence” of Mercedes-Benz World, the brand experience centre located at the Brooklands motor racing circuit in Weybridge. According to Mercedes, this means Continental will supply tyres for all Mercedes-Benz vehicles used in the driving experiences both on the circuits and challenging 4×4 off-road terrain. As the lead tyre development partner for Mercedes-AMG division, Continental is said to be well placed to serve the many and varied demands of the entire Mercedes-Benz driving experience range.

5th October 2012/by Tyrepress Editors

Bus range to kick off Conti’s ‘third generation’ commercial line-up

The third generation of commercial vehicle tyres Continental is displaying at this week’s IAA Commercial Vehicles show has been described by the German manufacturer as the “most comprehensive product offensive for truck and bus tyres in the over 140-year history of the Hanover-based tyre manufacturer.” Continental says that from mid-2013 it will successively switch over all of its steering axle, drive axle, trailer and bus tyres across the world to new third generation products.

27th September 2012/by Tyrepress Editors

Schaeffler sells 21 million Continental shares

According to a report from DB Equity Research Automotive, Continental’s majority shareholder has sold 21 million Conti shares at a market price of 81.50 euros each and is using the proceeds to cut its debt by 1.6 billion euros, bringing its debt down to 10.6 billion euros.

25th September 2012/by Tyrepress Editors

Conti returns to DAX today

Since the start of trading today, the Continental AG share has again been listed in the top Deutsche Börse segment, having returned to the list of top German companies after an absence of almost four years. The company is the first to succeed in being promoted back to the DAX 30 twice.

24th September 2012/by Tyrepress Editors

Analysts: Continental ‘can still surprise’

Some financial analysts have stated their faith in Continental AG’s continuing strong financial performance ahead of the company’s third quarter results.

Upgrading their estimates for the company’s shares performance, Morgan Stanley market watchers said they predict “10 per cent upside to 2012 consensus and circa 20 per cent in 2013-2014,” continuing: “We think valuation and third quarter catalyst make Continental the most attractive investment in the auto industry.”

24th September 2012/by Tyrepress Editors

European launch for Conti TPMS

Following its US launch earlier this year, Continental will soon roll out its ContiPressureCheck commercial vehicle TPMS in Europe. The early warning system was debuted locally at the IAA Commercial Vehicles show earlier today.

18th September 2012/by Tyrepress Editors

P Zero tops Evo tyre test

The Pirelli P Zero has taken top honours in Evo magazine’s annual tyre test. The Pirelli tyre and its rivals from Continental, Dunlop, Goodyear, Hankook, Kumho, Michelin, Nexen and Vredestein were put through their paces on a circuit in the south of France, where wet handling, dry handling, braking and aquaplaning were assessed, followed by a drive on a mixed road route designed to replicate real world conditions.

18th September 2012/by Tyrepress Editors

Challenge to South African tyre recycling plan thrown out

A South African court ruled yesterday that any tyre maker who didn’t adopt the country’s REDISA waste tyre management plant would “not be entitled to manufacture [or] import new, part worn or retreaded tyres” and would also be subject to sanctions outlined in the waste tyre regulations and other legislative provisions. This decision, given by Judge Piet van der Byl at the Gauteng North High Court, put an end to efforts by the SA Tyre Recycling Process Company (SATRP) and Bridgestone South Africa to block this.

18th September 2012/by Tyrepress Editors