Continental AG

Czechia

Continental AG, commonly known as Continental or colloquially as Conti, is a German multinational automotive parts manufacturing company specializing in brake systems, interior electronics, automotive safety, powertrain and chassis components, tachographs, tires and other parts for the automotive and transportation industries. It is headquartered in Hanover, Lower Saxony. Continental is the world’s fourth-largest tire manufacturer.

Continental was founded in 1871 as a rubber manufacturer, Continental-Caoutchouc und Gutta-Percha Compagnie. In 1898, Continental started development and production of the vehicle tires with plain tread, which was the major success of the brand. In 1904, Continental became the first company in the world to manufacture grooved vehicle tires. Another major product Continental invented was detachable wheel tire that was made for touring vehicles (1905). In the late 1920s, Continental merged with several other major rubber industry companies to form the largest rubber company in Germany “Continental Gummi-Werke AG”. As with many other German companies during World War II, Continental used slave labor provided by the Nazi Party in their factories in the 1940s at Hannover-Stöcken, Hannover-Limmer, Hannover-Ahlem, and others, all offshoots of the Neuengamme concentration camp.

After acquiring Siemens AG’s VDO automotive unit in 2007 Continental was ranked third in global OEM automotive parts sales in 2012 according to a study sponsored by PricewaterhouseCoopers.

In 2008, Continental appeared overextended with its integration of VDO and had since lost almost half of its market capitalisation when it found itself to be the hostile takeover target of the family-owned Schaeffler AG.[13] By 2009, Schaeffler successfully installed the head of its motor division at the helm of Continental.

On 6 September 2012, Continental returned to the benchmark DAX index of 30 selected German blue chip stocks after a 45-month absence.[15] IHO Group (investment holding of the Schaeffler family) is the controlling shareholder and currently owns 46% of Continental shares.

On 13 November 2020, it was announced that Nikolai Setzer would take over as CEO following the short-notice resignation of Elmar Degenhart.

Contact

Continental AG
email
VIA CONTACT FORM
address
Na Rovince 879 702 00 Ostrava Hrabová
phone
+420 800 100 618