Conti Expects Big 2006 Results
(Akron/Tire Review) A Reuters report out of Europe says that Continental AG expects to post “record-beating revenue” and net profit in 2006, but is counting on “innovation and cost-cutting” to help it post those profits.
Denman Owner in Deal to Buy CTNA OTR Plant
(Akron/Tire Review) Reports indicate that Pensler Capital Corp., which owns Denman Tire Corp., has signed a letter of intent to purchase Continental Tire North America’s (CTNA) OTR tire plant in Bryan, Ohio.
Stoecken Passenger Car Production Reprieved
(Clacton, U.K./Tyres & Accessories) Continental AG has reached an agreement with unions to hold-off job cuts for a year, and therefore continue passenger car tyre production at its Hanover-Stoecken plant.
Conti Aims to Complete Chinese Plant Plans by Q2
(Clacton, U.K./Tyres & Accessories) Continental AG representatives say they are aiming to finalise plans for a 300 million euro investment in a tyre plant in China by the second quarter of this year.
Compromise Possible At Conti-Stoecken
(Clacton, U.K./Tyres & Accessories) There is still a possibility that Continental AG can make an amicable agreement with the German works council over job-cuts at its Hanover-Stoecken tyre factory, the AFX news agency has reported.
CTNA Tells Mt. Vernon Workers of Cutback, Capital Plans
(Akron/Tire Review) According to a story last Friday in the Benton (Ill.) Evening News, workers at Continental Tire North America’s (CTNA) tire plant in Mt. Vernon, Ill., are being asked to accept a 10% wage decrease, a 50% increase in insurance costs, vacation cuts and a pension freeze.
CTNA Plans Capital for Mt. Vernon, Wants Wage Cuts
(Akron/Tire Review) Just days after announcing significant cutbacks at its Charlotte, N.C., tire plant, Continental Tire North America (CTNA) said it planned a $60 million to $70 million capital improvement effort at its Mt. Vernon, Ill., passenger and truck tire facility.
USW Lashes Out at CTNA After Charlotte Cut Announcement
(Akron/Tire Review) Just a day after Continental Tire North America (CTNA) announced major cutbacks and layoffs at its hometown Charlotte, N.C., passenger tire plant, the United Steelworkers (USW) issued what it termed a “stinging criticism of management’s failure to understand how to compete in North America.”
Barum Increases Capacity
(Clacton, U.K./Tyres & Accessories) Czech tyre maker Barum Continental produced 18.52 million passenger car tyres last year, a growth of 7% year-on-year, company representative Pavel Pravec told the Prague Daily Monitor.
CTNA Announces Serious Charlotte Cuts
(Akron/Tire Review) Continental Tire North America (CTNA) announced today that it will significantly cut production and lay off employees at its hometown Charlotte, N.C., passenger tire plant.