The sale of Continental AG's ContiTech business unit is slated to take place next year, Continental's executive board has confirmed.
Subject to the approval of Continental's supervisor board, the sale will occur after the sale of ContiTech's original equipment division, which is planned for later in 2025.
Continental also intends to spin-off its Automotive business by the end of this year.
"For the first time in its history, Continental will become a pure-play tire manufacturer focused on value creation, profitability, cash flow and stable business development," notes Continental CEO Nikolai Setzer.
"Despite volatile markets, Continental's tire business has shown stable development in recent years," say Continental officials. "The company benefits from highly efficient processes, a strong customer focus and a robust technology portfolio. With its 20 tire plants, the company is well-positioned both globally and locally."
Continental "has a strong foundation in the car tire segment. In 2024, car tires accounted for around 77%" of the firm's total tire sales.
The company sees "greatest potential for growth in North America and Asia."
