ERJ staff report (TB)
Hanover, Germany- Matthias Schoenberg, ceo of Continental Tire the Americas (CTA) since September 2006, is returning to his native Germany to become the top executive of the Fluid Technology business of parent Continental AG's ContiTech Division, effective 1 July.
Continental AG has yet to name a successor. The Fluid Technology unit is a worldwide business with 13 000 employees and annual sales of nearly $1.5 billion (euro 10 079 million).
During Schoenberg's time as ceo of Continental Tire in the Americas, the company returned to the black after years of losses, streamlined its business in North America and expanded its presence in Latin America with a plant in Brazil and acquisition of majority control of an affiliate in Ecuador.
The Fluid Technology business is the largest unit within the ContiTech Division, representing more than a third of sales, with 29 plants worldwide making straight and shaped hose, hose assemblies and tubing. More than 90 percent of sales are generated with OE and industrial customers.
Schoenberg also said the move has personal meaning, since his young family has for the most part grown up outside of Germany.
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Article from Tire Business, a Crain publication
Press release from Conti