ERJ staff report (DS)
Hannover, Germany -- Continental is re-naming its Business Unit â€œIndustrial Tiresâ€ to â€œCommercial Specialty Tiresâ€ (CST). The process started in October 2012 and is expected to be complete by January, 2013. The company expects to give more details of its plans in this area in January 2013.
The renaming is part of Continental AG's global strategy and paves the ground for future growth in the segment of speciality tyres. Continental's strategic vision to 2025 includes a plan to enter new business segments such as large and off-road mining tyres and other high-profit segments.
The field of Commercial Specialty Tires basically includes a broad range of tyres except products for trucks, passenger or two-wheel vehicles. In the months and years to come, Continental Commercial Specialty Tires will significantly extend and enlarge its product range and customer service portfolio. Among others, interdisciplinary execution of projects for various industry sectors will become a core competency of the business unit.
â€œMoving from Industrial Tires to Commercial Specialty Tires is not only about changing our name and adding some new products to the existing tyre portfolioâ€, says Dr. Michael Andreas Maertens, Managing Director of Continental CST. â€œIt is a big opportunity to broaden our scope and to develop our capabilities to better serve individual needs of our customers worldwide.â€
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Press release from Continental