HANOVER, Germany—ContiTech has initiated a plan to "separate" its automotive business from other ContiTech business units by 2025.
In February, ContiTech announced a major restructuring program involving the consolidation of its automotive activities into "business area original equipment solutions" (BA OESL).
In an Aug. 22 written statement to European Rubber Journal, the Continental A.G. company said it had now "initiated the process to make OESL organizationally independent."
According to the company statement, ContiTech aims to consolidate the automotive activities into OESL "within the next two years."
"This will strengthen the strategic focus on industrial business already initiated and enable the automotive business to unfold its full potential," it added.
The move, ContiTech noted, also opens new strategic options for external investments in the automotive business.
"The project is currently in the concept phase," ContiTech said, adding that it would, therefore, not comment on further details at this stage.
