Continental AG

Continental AG
Continental AG
Type Aktiengesellschaft
Industry Automotive, manufacturing
Founded 1871
Headquarters Hanover, Germany
Key people Elmar Degenhart (CEO and Chairman of the executive board), Wolfgang Reitzle (Chairman of the supervisory board)
Products Tires, brake systems, automotive safety and communications systems
Revenue 26.05 billion (2010)[1]
Operating income €1.935 billion (2010)[1]
Profit €576.0 million (2010)[1]
Total assets €24.39 billion (end 2010)[1]
Total equity €6.203 billion (end 2010)[1]
Employees 148,230 (end 2010)[1]

Continental AG, internally often called Conti for short, is a worldwide leading German manufacturer of tires, brake systems, vehicle stability control systems, engine injection systems, tachographs and other parts for the automotive and transport industries. The company is based in Hanover, Germany. It is the world's 4th largest tire manufacturer after Bridgestone, Michelin and Goodyear.[2] It was founded in 1871 as a rubber manufacturer, Continental-Caoutchouc und Gutta-Percha Compagnie.[3] After acquiring Siemens VDO, it has become one of the top 5 automotive suppliers in the world.[4]



Continental is structured in six divisions:

  • Chassis & Safety
  • Powertrain
  • Interior
  • Passenger car & Light Truck Tires
  • Commercial Vehicle Tires
  • ContiTech

One of Continental's main areas of expertise and technological leadership is Fuel Consumption Reduction, achieved through more efficient fuel injection systems, reduced rolling resistance tires and hybrid propulsion systems.

Continental sells tires for automobiles, motorcycles, and bicycles worldwide under the Continental brand. It also produces and commercializes other brands on a regional level, such as General, Euzkadi, or Barum. Continental's customers include all major automobile, truck and bus producers, such as Volkswagen, Daimler AG, Ford, Volvo, Iveco, Schmitz, Koegel, Freightliner Trucks, BMW, General Motors, Toyota, Honda, Renault and Porsche[citation needed].

Continental AG global locations.

In 2001, Continental acquired a controlling interest in Temic, DaimlerChrysler's automotive-electronics business, which is now part of Continental Automotive Systems. The company also purchased German automotive rubber and plastics company Phoenix AG in 2004, and the automotive electronics unit of Motorola in 2006.[5] Continental recently acquired Siemens VDO from Siemens AG.[6]

In Argentina, since 1999, has teamed up with FATE for the production of tires for cars, trucks and buses [7] and exports to the rest of South America the production of the San Fernando plant.[8]

It recently started the construction of a plant in Costa Rica.

Takeover offer

In August 2008 Continental agreed to be taken over by the family-owned auto parts manufacturer Schaeffler Group and a consortium of banks in a deal valuing the company at €12 billion. Schaeffler has however pledged to restrict its stake in the company to less than 50% for at least four years.[9] Continental chief executive officer Manfred Wennemer, who had tried to preserve the independence of the company, in contrast to the chairman of the supervisory board, Hubertus von Grünberg, subsequently announced his resignation, stating that the "sneaky" move had been carried out "egotistically, high-handedly and irresponsibly".[9] Dr. Karl-Thomas Neumann has succeeded Manfred Wennemer as chief executive officer of Continental on September 1, 2008.

Continental Tire the Americas, LLC

Continental Tire entered the North American Tire industry with its 1987 purchase of General Tire, forming Continental Tire of North America (CTNA).[10] At the time, Continental was following other tire manufacturers, such as Bridgestone and Michelin, into the American tire market.

The North American headquarters of the tire divisions are located in Lancaster County, South Carolina. The North American headquarters of the CAS division are located in Auburn Hills, Michigan, directly South of the Great Lakes Crossing mall.

In 2006, CTNA closed its tire production plant in Mayfield, Kentucky,[11] and announced the cessation of tire production in Charlotte, North Carolina.[12] The same year, the Company announced that effective January 1, 2006 it would be implementing massive cuts on retiree health care for retirees across the country.[13]

Automotive electrical-energy storage systems

  • Continental was one of the companies bidding to work with GM to provide the battery pack for the Chevrolet Volt extended-range electric vehicle (E-REV).[14] They are the primary contractor for a system utilizing Lithium-ion batteries from A123Systems. They did not prevail in their bid and GM will assemble packs with cells purchased from Compact Power.[15]

See also

Factory 1b.svg Companies portal


  1. ^ a b c d e f "Annual Report 2010" (PDF). Continental. Retrieved 1 April 2011. 
  2. ^ "The History of General Tire from 1915 up to now". 
  3. ^ "Continental Corporation - History 1871 - 1926". 
  4. ^ "Continental Global Site - Passenger Cars". 
  5. ^ "Continental Corporation - History 1995 - 2007". 
  6. ^ "Continental AG and Siemens VDO Automotive AG join together to form automotive supplier at forefront of global market". Retrieved 2007-08-01. [dead link]
  7. ^
  8. ^
  9. ^ a b Mason, Rowena (21 August 2008). "Schaeffler family buys out tyre giant Continental for €12bn". The Daily Telegraph (London). Retrieved 2008-08-25. 
  10. ^ "Continental Corporation - History 1971 - 1995". 
  11. ^ "Continental Tire to close Kentucky plant". 2006-08-02. 
  12. ^ Fuchs, Roberta (2006-03-10). "Continental may halt production, lay off 478". 
  13. ^ USW: Continental Retirees
  14. ^ Keegan, Matt (2008-09-26). "Continental Prepared To Build 15K Lithium-Ion Packs Annually". Retrieved 2008-09-26. 
  15. ^ Park, Tracy (2009-01-12). "LG Chem Battery Cells to Power Chevrolet Volt". Compact Power. Retrieved 2010-10-01. 

External links

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Look at other dictionaries:

  • continental — continental, ale, aux [ kɔ̃tinɑ̃tal, o ] adj. • 1773; de 2. continent 1 ♦ Relatif à un continent. Climat continental, des terres éloignées de l influence océanique (grands écarts de température; pluies assez fortes en été). Plateau continental :… …   Encyclopédie Universelle

  • Continental — puede referirse a: Continental, para referirse a una gran masa de tierra en una región en contraste con una isla o islas cercanas, o usada para referirse también a la isla más grande de un grupo de islas en un archipiélago. Continental, papel… …   Wikipedia Español

  • continental — CONTINENTÁL, Ă, continentali, e, adj. Care ţine de continent, privitor la un continent; care se află pe un continent. ♢ Climă continentală = climă temperată, uscată, supusă la schimbări bruşte şi mari de temperatură. – Din fr. continental. Trimis …   Dicționar Român

  • continental — adjetivo 1. De un continente o de los países que lo forman: territorio continental, guerra continental, títu lo continental. ablación* continental. avión* continental. deriva* continental. plataforma* continental. talud* continental …   Diccionario Salamanca de la Lengua Española

  • Continental — Con ti*nen tal, n. 1. (Amer. Hist.) A soldier in the Continental army. See {Continental}, a., 3. [1913 Webster] 2. (Amer. Hist.) a piece of the Continental currency, paper money issued under authority of the Continental Congress. See… …   The Collaborative International Dictionary of English

  • Continental — Con ti*nen tal, a. 1. Of or pertaining to a continent. [1913 Webster] 2. Of or pertaining to the main land of Europe, in distinction from the adjacent islands, especially England; as, a continental tour; a continental coalition. Macaulay. [1913… …   The Collaborative International Dictionary of English

  • continental — 1818 as a purely geographical term, from CONTINENT (Cf. continent) + AL (Cf. al) (1). In reference to the European mainland (as opposed to Great Britain), recorded from 1760. Continental breakfast (the kind eaten on the continent as opposed to… …   Etymology dictionary

  • Continental — Continental: Continental AG  немецкая компания, производитель шин и покрышек. Continental Airlines  крупная американская и международная авиакомпания. Continental  марка бытовой техники в Бразилии. Bentley Continental  модель… …   Википедия

  • Continental — (Тосса де Мар,Испания) Категория отеля: 3 звездочный отель Адрес: Calle Puerto Rico, 17320 Тосса д …   Каталог отелей

  • continental — continental, ale (kon ti nan tal, ta l ) adj. Qui appartient à un continent. L Amérique se divise en partie continentale et partie insulaire.    Territoire continental, se dit du territoire français en Europe, y compris la Corse, par opposition… …   Dictionnaire de la Langue Française d'Émile Littré

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