{"id":13525,"date":"2023-08-22T00:26:54","date_gmt":"2023-08-22T00:26:54","guid":{"rendered":"https:\/\/isafespend.com\/investing\/continental-considers-sell-off-of-contitech-car-business-manager-magazin\/"},"modified":"2023-08-22T00:26:54","modified_gmt":"2023-08-22T00:26:54","slug":"continental-considers-sell-off-of-contitech-car-business-manager-magazin","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=13525","title":{"rendered":"Continental considers sell-off of ContiTech car business – manager magazin"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS\/Fabian Bimmer\/File Photo<\/span>
\n<\/i>\n<\/div>\n

BERLIN (Reuters) -German auto parts supplier Continental is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources. <\/p>\n

The possible sale would be part of a wider reorganisation of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, the publication added, citing the sources.<\/p>\n

Continental has taken a series of steps in recent years to restructure and boost profitability as its market capitalisation tumbled to 13 billion euros ($14.17 billion) from 50 billion in 2018.<\/p>\n

The company said in February it was reorganising ContiTech from six divisions into one in each of Europe, the Americas and Asia Pacific, while bundling its car activities into a separate unit geared towards electromobility.<\/p>\n

According to manager magazin, that unit – specialised in belts and sealing systems with a turnover of more than 2 billion euros – is due to be separated from the business within two years. It could be sold, split up further or merged with another company, the publication reported.<\/p>\n

The highly profitable tyres business and non-automotive part of ContiTech will be retained as the future core, it said, quoting an unnamed top manager who warned of the threat of a workforce rift if the tyres business continued financing the cars business.<\/p>\n

Continental declined to comment on the report.<\/p>\n

The company said in May that ContiTech would be realigned with the aim of enhancing its impact and efficiency, without providing further details.<\/p>\n

($1 = 0.9175 euros)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS\/Fabian Bimmer\/File Photo BERLIN (Reuters) -German auto parts supplier Continental is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company<\/p>\n","protected":false},"author":1,"featured_media":11226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-13525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nContinental considers sell-off of ContiTech car business - manager magazin | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=13525\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Continental considers sell-off of ContiTech car business - manager magazin | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=13525\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-22T00:26:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/LYNXMPEA7D094_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=13525#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=13525\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Continental considers sell-off of ContiTech car business – manager magazin\",\"datePublished\":\"2023-08-22T00:26:54+00:00\",\"dateModified\":\"2023-08-22T00:26:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=13525\"},\"wordCount\":288,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=13525#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=13525\",\"url\":\"https:\/\/isafespend.com\/?p=13525\",\"name\":\"Continental considers sell-off of ContiTech car business - manager magazin | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-22T00:26:54+00:00\",\"dateModified\":\"2023-08-22T00:26:54+00:00\",\"description\":\"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=13525#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=13525\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=13525#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Continental considers sell-off of ContiTech car business – manager magazin\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Continental considers sell-off of ContiTech car business - manager magazin | iSafeSpend","description":"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=13525","og_locale":"en_US","og_type":"article","og_title":"Continental considers sell-off of ContiTech car business - manager magazin | iSafeSpend","og_description":"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.","og_url":"https:\/\/isafespend.com\/?p=13525","og_site_name":"iSafeSpend","article_published_time":"2023-08-22T00:26:54+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/LYNXMPEA7D094_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=13525#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=13525"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Continental considers sell-off of ContiTech car business – manager magazin","datePublished":"2023-08-22T00:26:54+00:00","dateModified":"2023-08-22T00:26:54+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=13525"},"wordCount":288,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=13525#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=13525","url":"https:\/\/isafespend.com\/?p=13525","name":"Continental considers sell-off of ContiTech car business - manager magazin | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-22T00:26:54+00:00","dateModified":"2023-08-22T00:26:54+00:00","description":"\u00a9 Reuters. FILE PHOTO: The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016.","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=13525#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=13525"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=13525#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Continental considers sell-off of ContiTech car business – manager magazin"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/13525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13525"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/13525\/revisions"}],"predecessor-version":[{"id":13526,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/13525\/revisions\/13526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/11226"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}