Margins fall at Conti following Siemens VDO buy

ERJ staff report (DS)

Continental AG as reported a significant decline in margins across the corporation for the six months to June 2008. Executive Board chairman Manfred Wennemer said the reduction of debt as the top goal: “We are confident that we shall be able to reduce the level of debt this year substantially.”

In the rubber sector, the company reported slow progress, with a similar story of declining margins in both consumer and commercial tyres, although the Conti Tech unit performed better.

Consumer tyres reported a…

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