Wennemer Says More Acquisitions in the Cards - Tire Review Magazine

Wennemer Says More Acquisitions in the Cards

(Clacton, U.K./Tyres & Accessories) Continental AG purchased the Automotive Electronic business of Motorola and, say analysts, this deal looks reasonable.

The acquisition price is only 60% of sales, in line which the acquisition price of Temic five years ago, and only 10% of Continental, which makes it easier to absorb and integrate.

However, the analysts add a note of caution, saying that Continental management needs to succeed where Motorola failed – slow top-line growth and low margins. Most importantly, they suggest that Continental needs to fully digest this acquisition before moving on to the next one.

This advice comes after Continental Executive Board Chairman Manfred Wennemer told members of the press that the company wants to continue to make acquisitions in the U.S. following the announcement of the Motorola deal.

"We have improved our position in individual areas, but there are certainly still other areas where I can see our U.S. electronics business being strengthened," Wennemer said, although he declined to identify any specific takeover targets.

You May Also Like

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.

Bridgestone announced the release of its 2022 DE&I annual report. The report includes a detailed scorecard on its diversity representation across the US and Latin America along with a breakdown of its DE&I commitments, strategy and efforts in the last year.

“The release of our second DE&I Annual Report further solidifies our focus on empowering our teammates and the communities where we live, move, work and play,” said Ebonee Davis Ifeobu, vice president of diversity, equity and inclusion at Bridgestone Americas. “Last year, we made a commitment to build upon the DE&I framework already in place and doubled down on our efforts to listen, learn and evolve. While this is an ongoing and intentional journey, I’m proud of the strides we’ve made thus far.”

What Does it Mean to Have Sustainably Sourced Tires?

Sustainability starts at the source, and tire manufacturers are thinking about where rubber comes from more than ever.

CEAT Receives Lighthouse Certification from World Economic Forum

The certification is given to manufacturers that use Industry 4.0 technologies.

Nokian Tyres Holds Innovation Challenge Finals

Sustainability at the top of mind for Nokian Tyres during its innovation challenge.

Apollo Tyres Receives ISO Certification for Sustainability

Apollo Tyres underwent a three-stage assessment for the certification.


Other Posts

Discount Tire Announces ‘Defending Daytona’

The series will highlight Austin Cindric, driver of the No. 2 Discount Tire Ford Mustang, as he prepares to defend his title at the Daytona 500.

Discount Tire Defending Daytona
Hunter’s BL Series Bench Lathes Now Connects with HunterNet 2

With the new connectivity, shop owners and managers will be able to view before and after-cut results for rotors and drums online.

GRI Receives US DOT Certification for Safety

GRI tires will now have a DOT code embossed on their sidewalls.

Five Tire Trends You Need to Know

We’re talking about recent industry trends that you can take advantage of when running your tire business.

RwtN Featured Image EP20