By Liz White, ERJ staff
Hanover, Germany- Continental AG’s management has agreed with the works council and the IGBCE trade union a severance scheme for 860 workers at the former Phoenix AG headquarters in Hamburg-now about to be integrated into the ContiTech rubber processing business.
Under the agreement, production of hose joints will continue in Hamburg until 2007. Meanwhile ContiTech can begin some structural changes, said a statement from the Hannover-headquartered tyre, rubber and automotive parts group.
As both firms have previously said, the agreement allows…