Continental to Split Tires, ContiTech Business Units
Continental AG has decided to separate its Tires and ContiTech units, which have been grouped together within the company's Rubber Technologies division.
At the same time, Continental also will realign its Automotive Technologies group into "five, flexible business areas whose future structure will be geared to the strategic action fields and market development of Automotive Technologies," according to company officials.
The realignment of Automotive Technologies also will result in the dissolution of Continental's Vehicle Networking and Information and Autonomous Mobility and Safety groups.
All realignments will take place Jan. 1, 2022.
"We are consistently aligning ourselves with long-term technology and market trends," notes Continental CEO Nikolai Setzer.
"We are thus making the most of the potential presented by our unique, strong technology position in all of these fields. Continental will play a decisive role in the development and industrialization of the innovations required for this."
Continental announced the reorganization on Sept. 30.