Continental AG says it will separate rubber unit, likely put it up for sale

Ludwig Burger

Tue, Apr 8, 2025, 1:28 AM 1 min read

By Ludwig Burger

(Reuters) - Germany's Continental AG connected Tuesday said it would crook its ContiTech rubber and plastics part into an autarkic entity that would apt beryllium enactment up for sale.

"A merchantability of the radical assemblage is seen arsenic the astir probable strategical option," it said successful a statement.

The separation is to beryllium implemented aft the spin-off of its automotive portion and the merchantability of its Original Equipment Solutions business, the radical said.

ContiTech would apt go autarkic successful 2026, it added.

The determination intensifies a process of splitting disconnected businesses astatine the German shaper of tyres and car parts. Its supervisory committee past period formally approved plans for spinning disconnected the group's automotive business, which volition person currency funds of 1.5 cardinal euros ($1.64 billion) earlier the process is completed.

Continental plans a spin-off and consequent 100% nationalist listing of its automotive portion connected the Frankfurt banal exchange, during a pugnacious play for the German car parts and tyre shaper and Europe's car manufacture arsenic a whole.

(Reporting by Ludwig Burger, Editing by Friederike Heine)