Continental
The activities in the automotive sector, which previously stretched across all business areas, are bundled in a separate unit.
(Photo: Reuters)
In order to reposition its weakening industrial business, the Continental group is planning to bundle the industrial division of its subsidiary ContiTech, which previously consisted of six business areas, into three work areas. The supplier announced this on Thursday.
While the business areas were previously focused on individual products such as spring systems, cables for industrial and automotive companies, conveyor belts and drive belts, they are now to concentrate on the three major world regions of Europe, Asia/Pacific and America. This should leverage synergies and make the business more profitable.
The activities in the automotive sector, which previously stretched across all business areas, will be bundled in a separate unit and will be more strongly geared towards electromobility. So far, the business has mainly been done with combustion engine technology; but this expires in the middle of the next decade.
“We are sharpening our profile and are becoming more efficient by bundling our activities,” said Philip Nelles, who is responsible for the ContiTech subsidiary on the Executive Board.