Active portfolio strategy - not a core business for the Powertrain Division
The purchaser can build on an excellent market position
REGENSBURG, Germany, April 23 /PRNewswire/ -- International automotive
supplier Continental plans to sell its activities in the area of fuel
supply (FS). The business segment, which is part of the Powertrain
Division, involves fuel transport and tank bleeding systems. The Fuel
Supply department is profitable and a market leader. "As this business is
not among the core activities of the division, which focuses on components
for motors and powertrains, we have decided to sell it after an in-depth
analysis," explained Dr. Karl-Thomas Neumann, the Continental Board Member
responsible for the Powertrain Division.
Dr. Neumann mentioned that active portfolio policy is a key element of
Continental's strategy: "This means that we always continually assess both
the possible acquisition of companies as well as options for selling
company units. We take into consideration the market position and size of a
business, its sustainable profitability, its strategic positioning and how
much the current unit counts towards the core business of the company," he
explained. "We are now looking for a purchaser who can give the business
and the employees new perspectives via a focused strategy, while
simultaneously expanding their competence. We assume that we will have
found a suitable purchaser by the end of the year," emphasized Dr. Neumann.
The Fuel Supply business segment currently employs a staff of 3,500
worldwide. It develops and manufactures at more than ten locations. The
business unit posted a turnover of approximately 450 million euros last
year.
With targeted annual sales of more than 26.4 billion euros for 2008,
the Continental Corporation is one of the top automotive suppliers
worldwide. As a supplier of brake systems, systems and components for the
powertrain and chassis, instrumentation, infotainment solutions, vehicle
electronics, tires and technical elastomers, the corporation contributes
towards enhanced driving safety and protection of the global climate.
Continental is also a competent partner in networked automobile
communication. Today, the corporation employs approximately 150,000 people
at nearly 200 locations in 36 countries.
Within automotive supplier Continental AG, the Powertrain division
integrates innovative and efficient powertrain system solutions into
vehicles. This boosts performance and enhances ride comfort while reducing
consumption and emissions. As partner to the automotive industry, the
division develops and produces a wide-ranging product portfolio at over
sixty locations worldwide, beginning with gas and diesel injection systems
and engine and transmission controls and extending through to components
and systems for hybrid drives. The Division currently achieves annual sales
exceeding EUR 5 billion (based on figures for 2006) with a workforce of
more than 26,000 employees.
Corporate Image and Video Library:
http://www.mediacenter.continental-corporation.com
SOURCE Continental AG
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CONTACT:
Katja Mattl, Vice President Communications,
Continental Powertrain division, 011 49 941 790-4192, Fax: 011 49
941 790-6073, katja.mattl@contiautomotive.com, or Hannes
Boekhoff, Vice President Media Relations, Corporate
Communications, Continental AG, 011 49 511 938-1278, Fax: +49 511
938-1055, prkonzern@conti.de
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