Continental AG has entered negotiations with the city of Hanover to acquire a location near the Pferdeturm in Hanover, Germany, for its new headquarters.
Conti has been on the hunt for a new, larger headquarters since it outgrew its current location in Hanover, Germany. The company looked at both Hannover and the town of Garbsen before making the decision to stay in Hanover.
“We made the decision in favor of Hanover after carefully considering all advantages and disadvantages based on important criteria such as costs, transport links, and administrative support. The plots in both places were more or less on a par in this regard,” said Elmar Degenhart, chairman of the Conti’s executive board, adding that planning security in Hanover ultimately helped Conti make a decision.
If Conti acquires the location, it will have a combined area of 37,600 square meters from two plots where the company will build a campus-style headquarters and reserve space for future development, Conti said. The project, including the acquisition, will cost Conti somewhere in the “high double-digit million euro range.”
Conti and the city of Hanover plan to conclude negotiations by the end of the year, and transfer of ownership is planned for the first quarter of 2017. If all goes as planned the new headquarters will be completed in 2020.
