Auto industry: Continental only wants to manufacture tires
Continental shrinks: After the automotive parts division, Continental now also wants to outsource the plastics division Contitech.
(Image: Continental)
In an Executive Board resolution, Continental has decided to spin off the ContiTech division. The supplier group sees a sale of the plastics technology division as the most likely option. Before this, Continental would like to float its Automotive division on the stock market as an independent company. The so-called “spin-off” of ContiTech is likely to take place in the course of 2026. This division will then “act as a specialist for material solutions with a strong industrial focus”, as Continental writes today. Continental AG will thus position itself as a tire company and focus on one of its core business areas.
“Three strong, independent champions”
The CEO of Continental, Nikolai Setzer, explained the Executive Board's decision on Tuesday in Hanover with the words: “We are creating three strong, independent champions that will develop their full growth and value creation potential as autonomous companies”. The manager would like to personally accompany this transformation, he added.
The three independent companies require a restructuring of the Management Board. Accordingly, Ariane Reinhart (55), Board Member for Human Resources and Sustainability and Labor Director, will step down from her position on June 30, 2025. Ulrike Hintze (48) will be appointed to the Management Board. From July 1, 2025, she will also become Labor Director and responsible for Human Resources in the Tires division. Setzer will take over responsibility for sustainability from Reinhart.
ContiTech becomes Original Equipment Solutions
The automotive industry supplier Automotive, which currently has around 92,000 employees and sales of around €19.4 billion in the 2024 financial year, is to be floated on the stock exchange in September 2025, subject to approval by the Annual General Meeting on April 25, 2025.
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ContiTech, with around 39,000 employees and sales of around €6.4 billion in the past financial year, is to be largely bundled into the Original Equipment Solutions (OESL) business unit. The affected business unit with around 16,000 employees in 16 countries is currently being offered to potential buyers and partners.
The tire business Tires, with more than 57,000 employees, generated sales of around 13.9 billion euros in the past financial year.
(fpi)