Continental, Osram cut costs as autos downturn hits suppliers – Reuters

FRANKFURT (Reuters) – Auto suppliers Continental (CONG.DE) and Osram (OSRn.DE) plan deeper cost cuts after reporting weaker results on Tuesday, as a global slowdown hits the car industry. Demand in China, the world’s biggest auto market, has fallen for 15 months, while carmakers are under pressure to invest in cleaner and self-driving technologies set to reshape the industry.

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Continental flags slowing autos growth, to spin off powertrains – Reuters

FRANKFURT (Reuters) – Continental (CONG.DE) said on Tuesday that slower automobile production growth over the next five years had forced the car parts maker to book a 2.5 billion euro ($2.8 billion) impairment. The auto industry slowdown has already prompted profit warnings from various suppliers, including Continental, in the past few months.

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Conti chief outlines plan to boost EV, software expertise

Frankfurt, Germany — Elmar Degenhart, CEO of Continental Corp. since August 2009, embarked on his biggest project yet in 2018.

That’s when the global supplier announced it will split itself into three units, including a separate listing for its powertrain division, to adapt to industry trends such as electrification, autonomous driving and connectivity.

Read the source article at European Rubber Journal

Mobility is the Heartbeat of Life: Continental at the ITS World Congress 2019

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With growing urban traffic, there is also a proportional increase in the associated stress and risks. Addressing this challenge with the theme ‘Mobility is the Heartbeat of Life’, Continental presents its latest technologies and services for vehicles, fleets, and cities at the ITS World Congress 2019 in Singapore. Together with its subsidiary Quantum Inventions, the technology company will showcase solutions to enrich peoples’ mobile lives, making them safer and less stressful, in sync with the theme of the congress – Smart Mobility, Empowering Cities.

“Continental will feature technologies and services for vehicles, fleets, and cities to address challenges posed by rapid urbanization. On display will be our smart key solution, navigation services, comprehensive fleet management service, smart city transport and traffic management platform as well as several V2X enabled solutions for better safety and connectivity on today’s roads,” says Lo Kien Foh, President & CEO, Continental Automotive Singapore.

Read the source article at Best Business Magazine in India

Continental acquires CRP Industries’ automotive aftermarket belt business

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FAIRLAWN, Ohio—Continental A.G. has acquired the assets and business of CRP Industries’ Continental-related belt business and kits program.

The firm said in an Oct. 7 news release that as a result of the deal, Continental has brought all of its Continental-branded aftermarket belt products under its North American business. The deal consists of import and domestic Continental-branded multi-V belts, accessory drive kits, V-belts, timing belts, pro series kits, pro series plus kits and black series kits.

Read the source article at Rubber and Plastics News

Continental acquires CRP Industries’ automotive aftermarket belt business

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FAIRLAWN, Ohio—Continental A.G. has acquired the assets and business of CRP Industries’ Continental-related belt business and kits program.

The firm said in an Oct. 7 news release that as a result of the deal, Continental has brought all of its Continental-branded aftermarket belt products under its North American business. The deal consists of import and domestic Continental-branded multi-V belts, accessory drive kits, V-belts, timing belts, pro series kits, pro series plus kits and black series kits.

Read the source article at Rubber and Plastics News

Continental to close plants in Europe, U.S.

Continental plans a decade-long restructuring plan that will lead to the closure of plants in Europe and the U.S. in an effort to restore profits as vehicle production slows in key markets. The supplier did not say how many jobs would be lost but it estimates that globally 20,000 of its 244,000 positions will be affected by job cuts or job creation and the sale or transfer of parts of the business.

Read the source article at Automotive News Europe

Koetz: Continental still focused on expansion

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Frankfurt, Germany – Continental Corp. is continuing to expand its tire business into new regions despite current market challenges, according to Christian Koetz, head of the tire division and corporate purchasing.

As part of the Vision 2025, the German Tier 1 has been expanding its global footprint, and in its latest move, the tire maker is set to start production of truck tires in Bolton, Mississippi, later this year.

Read the source article at European Rubber Journal

Expansion aims to automate Continental’s hose manufacturing plant in Quebec

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GRANBY, Quebec—Continental’s ContiTech division has completed a project at its hose factory in Granby that makes production there largely automated.

Read the source article at Rubber and Plastics News