Continental Makes 38 Million Euros Profit in Timisoara - Tire Review Magazine

Continental Makes 38 Million Euros Profit in Timisoara

(Clacton, U.K./Tyres & Accessories) Continental AG’s Timisoara, Romania, subsidiary posted gross profit of 38 million euros (137.8 million Romanian new lei).

At the same time, the turnover of Continental Automotive Products went up by over 33% in euros last year, to approximately 217 million euros (786.6 million lei).

According to local newspapers, this makes the German company the biggest player in Romania. Michelin Romania posted about 200 million euro (727.3 million RON) turnover last year. The increase in Michelin’s business, some 40% exceeded that of Continental in terms of growth rate, but the French have been operating at a loss for a number of years. However, Michelin Romania says it expects to get back into the black this year, the news reports added.

Continental has been present on the Romanian market since the late 1990s, when it made the decision to invest 100 million euros in a factory in Timisoara. It later invested another 70 million euros in expansion, with the factory set to reach a production capacity of 16 million tyres a year by 2008. The list of European tyre manufacturers producing in Romania will swell this year following Pirelli’s decision to open a high-performance tyre factory in Slatina, as a result of approximately 110 million euros of investment.

You May Also Like

TMA Yankton Named K&M Tire Top Shop Winner

The 13-bay tire shop in Yankton, SD, is known for its commitment to customers and its community.

TMA Yankton Top Shop Winner

TMA Yankton, a Yankton, South Dakota tire and auto repair shop, was named this year’s 2023 K&M Tire Mr. Tire/Big 3 Tire Top Shop Winner. For over 40 years, the business has upheld the motto, "Where you're more than just a customer," at its small-town single location. K&M honored the winner of this year’s Top Shop contest at its 2023 Tire Dealer Conference and Trade Show in Las Vegas from Feb. 1-3.

Titan Sponsors Farm Fit Training at NFMS 2023 and Beyond

The sponsorship aims to shed light on the mental health crisis within the agricultural community.

Titan-Farm-Fit-training-ag-tires
Yokohama Tire Off-Road Drivers Ready to Tackle King of Hammers

Yokohama drives will compete on Geolandar off-road tires.

Are You Open on Saturdays?

With weekend availability and shortened hours, your community and techs will both be happy.

TR-Whats-the-Deal-Featured-Open-Saturday
Point S Executives Speak on How They Plan to Keep Winning

Point S leadership gives us the scoop on how the group is thriving during times of adversity.

Point-S-Lybeck-Cornelius-Young-1400

Other Posts

K&M Tire Dealers Go ‘All In’ at 2023 Conference & Trade Show

K&M Tire provided the fun, prizes and resources to dealers during its annual conference and trade show.

Bridgestone Creates New Philanthropic Position

Wade Munday has been hired to handle corporate philanthropy and social impact at Bridgestone.

Hunter Engineering, Dealerlogix Announce Integration

The partnership between companies was announced during NADA 2023.

Bridgestone Americas Releases 2022 DE&I Annual Report

The 2022 DE&I Annual Report outlines improvements Bridgestone has made in its three DE&I focus areas.