HANOVER, Germany (Feb. 12)—Continental A.G. is selling the bulk of its ContiTech non-tire rubber products business—comprising six business units and more than $1.3 billion in annual sales—in order to concentrate more intensely on its automotive chassis technology strategy. The company´s advisory council approved the plan Feb. 12 to sell ContiTech´s hose, power transmission and conveyor belt, profiles, coated fabrics and thermoplastics businesses. Continental will retain its vibration control and air spring activities—with combined sales of about $275 million and 2,790 workers—which will be integrated more fully into the automotive systems business as Conti pursues its "corner module" strategy of supplying automotive customers complete chassis systems, the company said.
Conti to sell most of ContiTech non-tire rubber business
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