Conti posts Euro 1123 million loss in ’08, will continue cost cutting

ERJ staff report (TB)

Tire Business staff report

Hanover, Germany — Continental AG said it will increase cost-cutting measures this year after posting a net loss of Euro 1123.5 million in 2008 compared with a profit of euro 1021 million in 2007. The company reported an operating (EBIT) loss of euro 296 million, reversing the profit of 1676 million a year ago.In the rubber goup,

The company’s rubber division fared better, reporting slightly reduced operating profit of euro 984.9 million, down from euro 1226 million…

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