YRC and Conti Terminate Joint Venture
The Yokohama Rubber Co. and Continental AG have decided to terminate their joint venture company, Yokohama Continental Tire Co. (YCC), effective end of March 2016. YCC was created in 2002 to meet the requirement set by Japanese and Korean carmakers for global procurement, according to a press release. Because Yokohama and Continental have both been
Gerstenberger Tapped to Lead ContiTech Units
Continental Corp. veteran Andreas Gerstenberger has taken over as head of ContiTech A.G.’s global Industrial Fluid Systems business unit, as well as its Industry Hose segment. Gerstenberger, who most recently was in charge of the European trading companies under the ContiTrade division, will be based at ContiTech’s North American headquarters in Fairlawn, Ohio, and will
Continental to Expand Contidrom Test Center
Continental AG will expand its Contidrom testing and development center near Hannover, Tyres & Accessories reported. T&A said the expansion will focus on expanding wet handling test capacities and is expected to be completed in two years in time for the 50th anniversary of Contidrom. Currently, about 11,000 tire tests are conducted at Contidrom every
Conti Helping S.C. Flood Recovery
Continental AG has donated $100,000 and Continental Tire the Americas has given $15,000 to the American Red Cross to assist in recovery efforts following the recent flooding in South Carolina. “It is incredibly important that we help each other during difficult circumstances,” said Jochen Etzel, CEO of Continental Tire the Americas. “The time and resources
ContiTech Releases Two Ag Products
Continental AG’s ContiTech division unveiled a new agriculture tire and track during the recent 2015 Farm Progress show. New products include a V-ply General Tire branded ad tire, and the Trackman Rowtech track. ContiTech’s new General V-ply agriculture tire offers low rolling resistance, high tread cut resistance, excellent traction and high mileage, the company said.
Conti Raises 2015 Earning Forecast
Continental Ag is raising its earning forecasts for 2015 following a strong first half of the year. The company is aiming to achieve an adjusted EBIT margin, operating earnings over operating sales, of 11%, according to the Continental. Previously, Conti had anticipated an EBIT margin of 10.5%. “We proved how strong we are in a
New ContiTech HQ, R&D Center Near Akron Officially Unveiled
ContiTech unveiled its new-look North American headquarters yesterday, with ContiTech NAFTA CEO Jim Hill pledging that the new organization would focus on its customers by bringing a wider range of new products to them. “We will continue to provide the same top-quality products and services to our existing customers and now, as a member of
Conti Income, Sales Up YoY
Continental AG posted higher net income and higher net sales for 2014 than it did in 2013. The company posted a net income of roughly 2.4 billion euros and net sales of 34.5 billion euros in 2014, compared to an income of 1.9 billion euros and sales of 33.3 billion euros in 2013. Net sales
Conti Acquires Tire Manufacturing Equipment Producer
Continental AG has acquired all shares in AZ Formen- und Maschinenbau GmbH – a Runding, Germany-based company that produces tire molds, containers, special machinery and cutting devices. The purchase includes two AZ plants: one in Runding and another in the Czech Republic. Continental confirmed the acquisition to Mittelbayerische newspaper and stated that it did not
Continental-Veyance Deal Approved
Reuters reported that Continental AG won both U.S. and Canadian antitrust approval to buy Veyance Technologies, a U.S.-based maker of industrial hoses and belting, on the condition that Veyance sells its North American commercial vehicle air springs business. The proposed 1.4 billion euro ($1.73 billion) deal for Ohio-based Veyance was announced in February. Continental said
Conti Shows Off Treads Made From Dandelion Rubber
At the International Motor Show (IAA) Commercial Vehicles in Hanover, Germany, Continental AG presented its first test tire treads made from dandelion rubber. The natural rubber in the treads of the passenger car winter test tires was produced entirely from Taraxagum – Conti’s name for the dandelion rubber material. “After several years of development work
Conti Tire Sales Drive Strong 1H Results
Auto component and tiremaker Continental AG showed robust sales and earnings for the first half of the year. Sales for the first six months came in 2.1% higher year-over-year, landing at $23.2 billion. Net income jumped 14.2% YoY to $1.79 billion. Driven by strong replacement consumer and truck tire growth in North America, Conti’s tire