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Continental Is Eyeing Delphi, Dana, Hippe Says

(Akron/Tire Review) In an interview with German newspaper Euro am Sonntag, Continental AG CFO Alan Hippe said his company is interested in acquiring some assets of beleaguered automotive suppliers Delphi Corp. and Dana Corp.

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“Some of the assets of Delphi and Dana could be interesting,” Hippe said in the interview. “But a takeover of the whole company is out of the question.”

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Hippe told the newspaper, according to an AFX News report, that Continental has a “war chest of about 4 billion euros available for any acquisitions.”

Hippe, who is also president and CEO of Continental Tire North America, also told the newspaper that reaching breakeven in North America in 2006 is a “real challenge, but is also not completely impossible.”

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