Continental considers sale of car division within Contitech

Frankfurt, Germany – Reuters is reporting that Continental is considering the sale of the car division currently bundled within ContiTech.

The possible sale would be part of a wider reorganization of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, manager magazin reported, citing the sources.

Continental has taken a series of steps in recent years to restructure and boost profitability as its market capitalization tumbled to 13 billion euros ($14.17 billion) from 50 billion in 2018.