Advertisement
UK markets close in 1 hour 51 minutes
  • FTSE 100

    8,280.46
    -37.13 (-0.45%)
     
  • FTSE 250

    20,823.08
    +52.15 (+0.25%)
     
  • AIM

    810.85
    +0.83 (+0.10%)
     
  • GBP/EUR

    1.1767
    +0.0012 (+0.10%)
     
  • GBP/USD

    1.2795
    +0.0024 (+0.19%)
     
  • Bitcoin GBP

    53,072.29
    -620.16 (-1.16%)
     
  • CMC Crypto 200

    1,483.46
    -13.00 (-0.87%)
     
  • S&P 500

    5,311.09
    +6.37 (+0.12%)
     
  • DOW

    38,947.74
    -121.85 (-0.31%)
     
  • CRUDE OIL

    79.17
    +1.45 (+1.87%)
     
  • GOLD FUTURES

    2,363.70
    +29.20 (+1.25%)
     
  • NIKKEI 225

    38,855.37
    -44.65 (-0.11%)
     
  • HANG SENG

    18,821.16
    -6.19 (-0.03%)
     
  • DAX

    18,714.80
    -59.91 (-0.32%)
     
  • CAC 40

    8,069.10
    -63.39 (-0.78%)
     

Continental CEO reviews future ownership of ContiTech - Welt Am Sonntag

New plant of German company Continental in Aguascalientes

FRANKFURT (Reuters) - German auto parts supplier Continental is considering whether it is the most suitable owner for its ContiTech unit, CEO Nikolai Setzer said in an interview with Germany's Welt Am Sonntag newspaper.

"The ContiTech business is being developed independently and we are examining whether we are still the best owner for it," Setzer said, adding that the review is not yet complete.

ContiTech manufactures products, systems and intelligent components made of rubber, plastic, metal and fabric which are used in machine and plant engineering, mining, agriculture and the automotive industry, according to its website.

German's manager magazin reported in August that Continental is considering the sale of the car division currently bundled within ContiTech, as part of a wider reorganisation.

ADVERTISEMENT

The company said in February it was reorganising ContiTech from six divisions into one in each of Europe, the Americas and Asia Pacific, while bundling its car activities into a separate unit geared towards electromobility.

(Reporting by Emma-Victoria Farr, editing by Kirsten Donovan)