Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
April 09, 2013 02:00 AM

ContiTech sales grow 4%

Rubber & Plastics News Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    HANOVER, Germany—ContiTech A.G., one of five divisions of Continental A.G., grew nearly 4 percent during the past fiscal year, generating $4.1 billion in sales, according to the company's financial report.

    The technology company made the announcement recently during a news conference at company headquarters.

    Earnings before interest and taxes improved from 2011, from $544 million to $577 million.

    Heinz-Gerhard Wente, head of the ContiTech division and chairman of the Executive Board of ContiTech, credited his company's strategy on concentrating on growth in Asia, Brazil and Eastern Europe for increase. He said the company has invested $197 million last year, a record high. It is $52 million more than the company invested in 2011, he said.

    Asia accounts for 16 percent of ContiTech's overall sales, an increase of 3 percent, while the U.S. comprises 17 percent of sales, an increase of 4 percent, buoyed by the company's 2012 acquisition of a Parker Hannifin Corp. automotive air-conditioning business, based in Tennessee. Sales in Western Europe remain the strongest for ContiTech, making up 56 percent of the company's sales.

    ContiTech has added 960 employees over the last year, increasing its work force to 28,210. The company recently opened a research and development center in China, and it is moving forward with construction of an air-conditioning and power steering plant in Kaluga, Russia. ContiTech also purchased a hose factory in Turkey and is setting up a service center in Dubai.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Is worst of new-vehicle inventory shortage in rearview mirror?
    2
    Boiler malfunction idles Zeon operations in Japan, restart date set
    3
    Michelin's hydrogen partners: 4 things to know about Symbio's stakeholders
    4
    Technical Notebook: Effects of polymer type and Prophene on vibration isolator performance
    5
    Goodyear to trim jobs to address 'uncertain' economic outlook
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION