Continental announces aggressive growth plan

AUBURN HILLS, Mich. (Sept. 8)—Continental A.G. plans to double its 1999 global sales of $9.7 billion in the next five years and to become the No. 1 chassis systems supplier in North America, Chairman Stephan Kessel told a group of guests and media gathered for a dedication of the manufacturer´s new North American original equipment headquarters Sept. 7. The brake unit Continental Teves itself has doubled its sales since 1997 and will do so again, with orders in hand, by 2003, said William Kozyra, president of Continental Teves North America. Continental´s biggest competitive advantage is its ability to provide systems, said Bernd Frangenberg, president and CEO of Continental General Tire Inc. ``You (can) optimize a certain component like a tire or disc brake only to a certain point.´´