ContiTech Archives - Page 2 of 5 - Tyrepress

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Conti appoints new personnel director

Continental AG has appointed Elke Strathmann its new director of Personnel and appointed her a regular member of the company’s Executive Board. The tyre and automotive supplier says the 53-year old mathematician and human resources manager will take up her three-year contract position during the first quarter of 2012. Current Executive Board member for human resources, Heinz-Gerhard Wente, will henceforth concentrate on his duties as head of the ContiTech division plus take on responsibility for corporate purchasing in the Executive Board.

29th September 2011/by Tyrepress Editors

ContiTech acquires Australian mining industry firm

ContiTech, Continental’s rubber and plastics technology division, has further expanded its global activities in the mining and raw materials industry through its Conveyor Belt Group’s acquisition of Australian trade company M.I.R.S. (Mining Industrial Resource Supplies). The agreement to purchase the Perth-based company was made on July 12 and backdated to July 1, 2011. Both sides have agreed not to disclose the purchase price.

14th July 2011/by Tyrepress Editors

Conti Tire Americas chief to take on non-tyre role

Matthias Schönberg, who has served as chief executive officer of Continental Tire the Americas since October 2006, is soon to leave the company’s American operation to assume management of the ContiTech Fluid Technology business unit on July 1. Schönberg will take over this Germany-based position from incumbent Hannes Friederichsen, who as of October 1 will take on management of the Air Spring Systems business unit; current manager Dr. Thomas Johannsen, who is credited for transforming the Air Spring Systems business unit from an air spring manufacturer located in Hanover, Germany into an international supplier of air spring systems with plants in six countries, has announced his impeding retirement. Mr. Schönberg's replacement has yet to be named.

10th May 2011/by Tyrepress Editors

ContiTech Opens Brazil Factory

International News

Contitech has opened a new production facility in Ponta Grossa, Brazil, for textile and steel-cord conveyor belts, creating a stronger foundation for the company’s activities in the Central and South American region. The new 5,000m2 facility is designed to produce 300km of textile and steel-cord conveyor belting annually and has created over 60 new jobs. The total amount invested so far by ContiTech in the factory, machinery and equipment amounts to more than 10 million euros.

18th May 2010/by Tyrepress Editors

Analysts: Conti’s 1Q Results Suggest 100% Increase in Numbers

Analysts have reported that Continental’s first quarter financial results (released last week) show a “100 per cent increase in numbers.” This means that, in Morgan Stanley’s view, the company’s net debt is now “under control at 8.2 billion euros,” approximately 200 million better than they expected.

“Excluding the 1.1 billion capital increase during last quarter, the net financial position deteriorated by 413m in the first quarter 2010, which was largely expected due to seasonality of working capital,” the analysts explained in an investor’s note dated 4 May, adding: “[Capital expenditure was unsustainably low, however, decreasing by 62 million euros year-on-year and represented just 63% of depreciation and amortization and 3 per cent of sales.”

12th May 2010/by Tyrepress Editors

Conti Announces New Supervisory Board Members

A number of new Supervisory Board members were named at the April 23 Continental AG Annual General Meeting. These are Dr. Gunter Dunkel, chairman of the board of management of Norddeutsche Landesbank Girozentrale; Dr. Michael Frenzel, chairman of the executive board of TUI AG; Dr. Jürgen M. Geißinger, president and CEO of INA-Holding Schaeffler KG; Prof. Dr.-Ing. E. h. Hans-Olaf Henkel, honorary professor at the University of Mannheim; Rolf Koerfer, lawyer; Dr. Klaus Mangold, chairman of the supervisory board of Rothschild GmbH; Klaus Rosenfeld, CFO of the Schaeffler Group, Georg F. W. Schaeffler, partner in the Schaeffler Group; Maria-Elisabeth Schaeffler, partner in the Schaeffler Group; Dr. Bernd W. Voss, member of various supervisory boards. Substitute members are: Dr. h. c. Manfred Bodin, member of various supervisory boards, and Prof. Dr. Hans Heinrich Peters, chairman of the supervisory board of BÖAG Finanzdienst Aktiengesellschaft.

24th April 2009/by Tyrepress Editors

Conti Acquires Serbian Conveyor Belt Manufacturer

Continental AG subsidiary ContiTech has taken over Serbian manufacturer of mining operation conveyor belts, Univerzal Kolubara. According to ContiTech, the group paid less than ten million euros for the company, which has 250 employees. Investment at the Univerzal Kolubara site is planned in order to take advantage of anticipated growth in the mining of brown coal in Serbia.

7th April 2009/by Tyrepress Editors

ContiTech Application Guide for Asian Vehicles

The ContiTech Power Transmission Group has issued a new catalogue specifically for Asian vehicles. The range covers over 96 per cent of the Asian vehicle parc in Europe. The compilation helps workshops and dealers quickly locate the right belts as well as the range of deflection and tensioning pulleys and kits for Asian passenger cars.

30th October 2008/by Tyrepress Editors

Conti On Track to Appoint New CFO by Autumn

A replacement for outgoing Continental AG chief financial officer Alan Hippe is still expected to be appointed by autumn. Conti supervisory board head Hubertus von Grünberg confirmed the company’s plans when speaking with the Germany Handelsblatt financial newspaper, and added that CEO Manfred Wennemer and the supervisory board now need to reach a decision on candidates already interviewed.

With Hippe taking over Continental’s passenger car tyre and ContiTech divisions, von Grünberg said the company would prefer the next CFO to be drawn from within industry ranks, but it is also in talks with bankers and is considering internal candidates.

2nd June 2008/by Tyrepress Editors

Conti’s Hippe to Run Passenger & Light Truck Tyre Divisions

During Continental AG’s March 7 board meeting the decision was taken to reorganise responsibilities within the company’s Executive Board. As a result, as of April 1 Manfred Wennemer will hand over control of the Passenger and Light Truck Tire division to company CFO Dr. Alan Hippe. At the end of September 2008 Dr. Hippe will also take charge of the ContiTech division, succeeding Gerhard Lerch, who intends to retire and relinquish his seat on the board at this time. Mr. Wennemer will remain responsible for the Interior division.

Dr. Hippe will continue in the capacity of CFO until a successor to the position is appointed. Continental reports that no changes have been made to the responsibilities held by other members of the Executive Board.

10th March 2008/by Tyrepress Editors

Conti Breaks Ground on Asia Headquarters & Engineering Centre

On January 16 Continental AG held an official groundbreaking ceremony for its new Continental Asia Headquarters and dedicated Engineering Center in China. The new facility was first announced in July 2007 and Continental reports that a total of 60 million euros will be invested into the project, located in the Yangpu District of Shanghai. When complete the facility will encompass a total floor space of approximately 14,000 square metres, including a 14-floor office building. From May 2009 onwards nearly 900 Continental Group employees from the company’s Tire, Automotive and ContiTech divisions will be housed in the new premises. The site will also house one of Conti’s two key Engineering Center operations, supporting the design and testing of certain electronic products. Another facility with large-scale equipment for bench testing will be located in Shanghai’s Jiading District.

17th January 2008/by Tyrepress Editors

New Air Spring Brochure From ContiTech

“Air Spring Competence for the Commercial Vehicle Replacement Market” is the title of a new, high-class image brochure just released by ContiTech Air Spring Systems. In it ContiTech draws attention to an expertise born of more than fifty years of experience in the development and production of air springs for commercial vehicles.

“The image brochure is geared to providing purchasers all they need to know.
With no false modesty, we provide an overview of our material competence, product quality and customer orientation,” says Meike Zettel-Sümnick, sales manager of the commercial vehicle replacement business at ContiTech Air Spring Systems.

16th January 2008/by Tyrepress Editors

Conti to Build Rs 1 billion Automotive Plant in India

Continental AG is looking to boost its India operations and broaden the range of products on offer to customers in the region following its recent buyout of Siemens’ VDO unit. One particular new investment Conti is making in India is its planned automotive electronics plant and R&D facility in Bangalore, which will be established with an initial investment of Rs 1 billion (£12.9 million). Joint venture facilities operated in conjunction with Rico and Ashok Leyland will also attract fresh investment in the coming years.

“In the next decade one of the main focuses of the automotive industry will be the so-called affordable cars, especially in the growth markets like India and China. The production of cars within a price range of Rs 5 Lakh (about £6,500) will increase from current figure of 650,000 to approximately 1.1 million units by 2017. This is a 70 per cent increase. To cope with this demand we have to focus on solutions for the Indian market; people want safe, yet affordable cars,” said Dr. Karl-Thomas Neumann, chief technology officer and board member of Continental AG. “Continental has developed strategies and products that are suited to these demands,” Dr. Neumann added.

10th January 2008/by Tyrepress Editors

New Hoses From ContiTech

Higher performance, smaller installation spaces and more demanding customers – these are the typical challenges facing automobile manufacturers. New hydraulic, flat, and moulded hoses from ContiTech Fluid Technology can help them handle these challenges.

The dynamically high-strength flat hoses are already in series production at Porsche, providing a very large volume increase at minimal pressures. They are also planned for use in BMW and Mercedes-Benz’s power steering systems.

7th January 2008/by Tyrepress Editors

Half-Year Results “Arm” Conti for Future

Following positive sales and EBIT during the first half of the year, Continental AG says its goals for 2007 are firmly in sight and feels “well-armed to tackle the tasks ahead.” The German tyremaker and automotive supplier achieved double-digit growth over the same period last year in these two key financial indicators, a result Conti is calling a “rock solid basis for yet another peak year.”

Consolidated sales for the first six months of 2007 rose by 10.8 per cent compared with the same period of 2006, to 8,013.9 million euros, and Continental report the Motorola automotive electronics business contributed 558.7 million euros to the company’s sales. Before changes in the scope of consolidation and exchange rate effects, consolidated sales were up 6.3 per cent.

Raw material prices, although still at a high level, remained stable during the first half of the year. EBIT rose by 26.2 per cent over the previous year’s 722 million euros to 911.5 million euros, and the return on sales to 11.4 per cent. The automotive electronics business acquired from Motorola contributed 7.4 million euros to EBIT. Before changes in the scope of consolidation and special effects, EBIT rose by 146.4 million euros – 19.2 per cent – to 909.8 million euros.

1st August 2007/by Tyrepress Editors