Conti earnings, sales increase in 1999

HANOVER, Germany (March 17)—Continental A.G. reported double-digit increases in earnings and sales for fiscal 1999, reflecting both acquisitions and internal growth. Pretax earnings jumped 34 percent to $544.7 million, while net income leapt 70.2 percent ahead of 1998. Sales rose 35.4 percent to $9.73 billion. Continental General Tire Group in North America recorded a 21.5-percent jump in sales to $1.59 billion, reflecting the first time consolidation of the former Euzkadi tire business in Mexico. The ContiTech non-tire products group showed a slight gain, and Continental Automotive Systems Group—primarily the Continental Teves brake and chassis business—posted sales of $2.7 billion.