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Continental posts first quarter sales gains

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Contintental AG says it has "laid the foundation for another successful year" by generating 3.9 billion euros in sales during the first quarter.

Continental achieved 3.6 billion euros in sales during the first quarter of 2006.

"We've had a very good first quarter, which was characterized by an overall gratifying development in car production, especially in Europe and Asia," says Continental Chairman Manfred Wennemer.

"Other positive factors were increases in replacement sales for passenger and light truck tires in Europe and North America, where we upped earnings significantly."

Continental's Passenger and Light Truck Tires division posted 1Q 2007 sales of 1.14 billion euros, a 5.4% increase over 1Q 2006. Its Commercial Vehicle Tires unit, however, recorded a sales decrease of .5% during the first three months of this year.

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