Continental may halt Belgian production, unload automotive units
Continental Tire North America Inc. parent company Continental AG may discontinue truck tire production at its Herstal, Belgium, plant.
Deciding factors include European truck tire market saturation and the factory's high cost of production.
However, other manufacturing activities would continue at Herstal, according to company officials, including passenger tire production.
Continental AG also is looking to sell "major parts" of its ContiTech group, including Sealing Systems, Power Transmission Systems, Conveyor Belt Systems and others. "Continental's executive board is convinced that these business units, which are already operating very profitably, will develop even better outside the (Continental) organization."
The Hanover, Germany-based company has not revealed any potential buyers.