Conti eyes ’04 improvements after strong first half

From Rubber & Plastics News

Hanover, Germany-Continental AG anticipates 2004 operating earnings and sales will exceed the 2003 fiscal performance, despite having to take up to $144 million in charges against earnings to cover the costs of phasing out tyre production at its Mayfield, Kentucky, plant.

For the period ended 30 June, Continental’s operating earnings climbed 21 percent to $594.4 million on 9-percent better sales of $6.93 billion, pushing the earnings/sales ratio up nearly a point to 7.9 percent.

Sales of passenger and light truck tyres grew 8.3…

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