ContiTech units may be sold—eventually

HANOVER, Germany (Nov. 27)—Reports in the German press that tire and automotive parts maker Continental A.G. may divest a portion of its traditional rubber-processing businesses—grouped under the ContiTech umbrella—are "somewhat exaggerated," according to a ContiTech spokesperson. Although Continental may consider selling off ContiTech businesses that are not core to its automotive activities, the spokesperson stressed there are no concrete plans to do so. Among units which fit into this category, the spokesperson said, are the conveyor-belting business, printing-roller activities and the Benneke Kaliko unit which supplies decorative polymer coatings for automotive, furniture and footwear uses. Conti Chairman Stephan Kessel was quoted in the Handelsblatt newspaper recently as saying that much of ContiTech did not have a long-term future with Continental. Automotive businesses are unlikely to be part of any future sale, the spokesperson said. ContiTech makes automotive and non-automotive hose and transmission belt systems and automotive profiles. It also produces vehicle vibration-control systems, containing rubber-to-metal bonded anti-vibration devices and air springs.