/ Industry, News / Continental wants focus on profit and expansion

Continental wants focus on profit and expansion

Linked In Share
Continental wants focus on profit and expansion

The auto parts and tire company, which is Europe’s second biggest in both areas, has announced it aims to focus on the profitability of future acquisitions, as it aims to gain more independence from the auto industry.

This February Continental decided to acquire from the Carlyle Group their Veyance Technologies subsidiary in a 1.4 billion euros ($1.92 billion) deal that seeks to boost their ContiTech plastics and rubber division.

“For years now, we have been persistently expanding our room for maneuvering,” Chief Executive Officer Elmar Degenhart said in the text of a speech at a press conference in Frankfurt. “We have now gained the financial flexibility for larger acquisitions.”

While Continental AG aims to see its future revenue provided by outside auto industry businesses amount to 40% of the total, at the moment the deal to purchase the US based Veyance would increase from 28 to 32% the outside revenue share – with the deal scheduled for completion in the fourth quarter of 2014.

In its core auto parts and tire making business, is seeking the fifth record sales in as many years, aiming to boost sales of components like parking-assistance systems and braking electronics – which aided the company last year in boosting deliveries.

Via Bloomberg

by Aurel Niculescu (my Google+) - Thursday, March 6th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
continental europe expansion profit


Discuss: Continental wants focus on profit and expansion

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Top 10 Ferrari F1 drivers No.2 Alberto Ascari
Top 10 Ferrari F1 drivers No.2 Alberto AscariLike his father he was so fast, sometimes perhaps too fast. In pure natural speed and car control no driver could hold a candle ...
Audi R8 GT hits Range Rover Evoque in South Africa
Audi R8 GT hits Range Rover Evoque in South AfricaThe driver of an Audi R8 GT has ran a red light and crashed into a Range Rover Evoque, in South Africa, destroying both ...
Exclusive – Maserati Alfieri to be produced in Coupe and Cabrio versions
Exclusive – Maserati Alfieri to be produced in Coupe and Cabrio versionsMaserati is planning on putting the impressive Alfieri concept into production as the model in question will be assembled in two ...
[VIDEO] Carbuyer tells you not to buy a Ford EcoSport in its new review
[VIDEO] Carbuyer tells you not to buy a Ford EcoSport in its new reviewA review with the small Ford EcoSport, signed by Carbuyer, is suggesting to head towards other vehicles in the segment as this is ...
Lexus RX 450h Advanced Edition introduced in the UK
Lexus RX 450h Advanced Edition introduced in the UKThe Lexus RX 450h Advanced Edition has been officially introduced in the United Kingdom as the car company has recently ...
[VIDEO] BMW i8 gets tested by Motor Trend
[VIDEO] BMW i8 gets tested by Motor TrendJonny Lieberman from Motor Trend has recently went for a spin in the impressive BMW i8 and he tried to answer some pretty ...
US: five premium cars that conquest non-luxury buyers
US: five premium cars that conquest non-luxury buyersWith the rise in economic confidence, the sales of premium cars took flight, gathering record after record in monthly US sales ...
New Jaguar XF caught on the open road
New Jaguar XF caught on the open roadA new generation of the Jaguar XF is currently being developed by the British based automaker as our spy photographers have ...
2016 BMW 7-Series spied
2016 BMW 7-Series spiedThe new generation of the BMW 7-Series has been spied recently wearing a lot of camouflage and being driven on a public ...
Volvo plans another 9 new models after XC90
Volvo plans another 9 new models after XC90After the Swedish automaker has presented the new XC90 large SUV more than 12 years since it outed the first generation, the ...
[VIDEO] See a 17-year old kid do a burnout in a Ferrari F40
[VIDEO] See a 17-year old kid do a burnout in a Ferrari F40A video upload is showing a 17-year old boy doing a burnout in what is considered to be the best supercar ever created, a Ferrari ...
Ford is on schedule with F-150 body shop transformation
Ford is on schedule with F-150 body shop transformationA weeklong process started when the last of the 2014 F-150 pickup trucks rolled off the assembly line on Saturday. After that ...
US: BMW needs Silicon Valley gurus to adopt the i8
US: BMW needs Silicon Valley gurus to adopt the i8The German premium automaker managed to hit the bulls eye when one of the first US customers of the $136,000 i8 plug-in hybrid ...
2017 Ford Focus RS might get an AWD after all
2017 Ford Focus RS might get an AWD after allThe new generation of the Ford Focus RS is keeping everyone in the shadows but a new report is indicating that the company might ...
[VIDEO] 2015 Suzuki Vitara goes official
[VIDEO] 2015 Suzuki Vitara goes officialThe first official image and video with the brand new 2015 Suzuki Vitara have been released by the company, ahead of its public ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

audi r8 gt crash south africa 1
cadillac-ats
Spy-Shots of Cars
Spy-Shots of Cars
Chevrolet Niva Concept 1
BMW M5 f10 tuning dinan 1
Opel Mokka Moscow Edition 1
MUstang_production
Renault R.S. 01 race car 2
Spy-Shots of Cars
lada vesta sedan 1
2015 mazda2 mps 1

More automotive from inautonews
Like his father he was so fast, sometimes perhaps too fast. In pure natural speed and car control no driver could hold a candle to Alberto Ascari in the 1950’s. A sobre, very superstitious man he is the driver that put Ferrari on the top of the world for the first time. And in a manner nobody, ...
read more
Inautonews Editors Section
Top 10 Ferrari F1 drivers No.2 Alberto Ascari
Top 10 Ferrari F1 drivers No.2 Alberto AscariLike his father he was so fast, sometimes perhaps too fast. In pure natural speed and car control no driver could hold a candle to Alberto Ascari in ...
Top 10 Ferrari F1 drivers No.3 Gilles Villeneuve
Top 10 Ferrari F1 drivers No.3 Gilles Villeneuve"I know that no human being can do a miracle. Nobody commands magical properties, but Gilles made you wonder. He was that quick” Jacques Laffite ...
Test drive: Ford Ranger XLT 2.2 TDCi 150 HP
Test drive: Ford Ranger XLT 2.2 TDCi 150 HPFord is well known around the world for its F-150 pickup truck that actually doesn’t have a global presence. A paradox, yes? Well, actually no. ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [VIDEO] See the new-gen Volvo XC90 get crash testedVolvo has released a new video with the new generation of the XC90 in which the model in question ... US: Boston drivers rule the risky-prone rankingsAccording to Allstate Corp., the bottom of the annual ranking of the nation’s 200 biggest urban ...
Safety Section