Continental plans to spin off ContiTech rubber and plastics division to focus on tyre business

From Yahoo Finance: 2025-04-09 13:17:00

Continental, a German automotive parts manufacturing company, plans to restructure by making its ContiTech rubber and plastics division independent. The move aims to refocus the company as a dedicated tyre manufacturer after separating its automotive segment. ContiTech’s potential independence could be achieved by 2026, with the company generating €6.4bn ($7bn) in sales in 2024 and employing around 39,000 people.

Continental is already undergoing a carve-out of its automotive rubber products division, OESL, with approximately 16,000 employees in 16 countries seeking potential buyers. The restructuring initiative aims to establish Continental’s three group sectors—Tires, ContiTech, and Automotive—as standalone companies. Following these changes, Continental AG will exclusively operate as a global tyre company, with revenue of €13.9bn in 2024 and over 57,000 employees worldwide.

The reorganization also includes adjustments to Continental’s executive board, with Ulrike Hintze being appointed as the director of labour relations and executive board member for human resources (HR) effective 1 July 2025. Hintze will also lead the HR function within the Tires group sector, succeeding Dr. Ariane Reinhart, who will step down from her role as executive board member for HR and sustainability on 30 June 2025.



Read more at Yahoo Finance: Continental to spin off ContiTech, focus on tyre business