EQS-News: Continental AG: Continental to Evaluate Making Automotive an Independent Company and to Prepare Spin-off
Source: EQS
“Our strategy aims to increase our value creation. This involves systematically analyzing how we can best position our group sectors for success. Markets and customers, especially in the automotive industry, have evolved extremely dynamically in recent months. Looking ahead, sharply fluctuating regional developments in the markets as well as the software-driven technology transformation will require even greater flexibility and entrepreneurial freedom. Against this backdrop, we are aiming to divide Continental into two independent companies,” said Continental CEO “A spin-off of Automotive has the potential to create competitive opportunities, enhance agility and increase transparency. As a strong, independent entity, Automotive would be able to harness its full potential for creating value. In addition, investors would be able to invest in a company focused specifically on automotive electronics,” said Prof. “We will have the interests of all employees firmly in mind when conducting the detailed evaluation – they too would benefit from having two strong, independent companies,” added Setzer. As with the spin-off of Vitesco Technologies in Automotive geared toward future market of software-defined and autonomous vehicles The Automotive group sector – which has already had its activities consolidated in a single legal entity since 2022 – would become a fully independent company as a result of the planned spin-off. Automotive generated sales of around Globally successful tire business and innovative material solutions with an industrial focus The Tires and Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2023, Continental generated sales of Press contact Head of Media Relations Continental Phone: +49 511 938-1364 Cell: +49 173 3145096 E-mail: vincent.charles@conti.de
Spokesperson, Business & Finance Continental Phone: +49 511 938-1278 Cell: +49 151 24506041 E-mail: marc.siedler@conti.de Press portal: www.continental-press.com Media center: www.continental.com/media-center
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Language: | English |
Company: | |
30175 |
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Phone: | +49 (0)511 938-13650 |
Fax: | +49 (0)511 938-1080 |
E-mail: | ir@conti.de |
Internet: | www.Continental.com |
ISIN: | DE0005439004 |
WKN: | 543900 |
Indices: | DAX |
Listed: | Regulated Market in |
EQS News ID: | 1961141 |
End of News |
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1961141 05.08.2024 CET/CEST