Hanover, Germany - Technology and automotive supplier Continental AG has sets its sights on a location near the Pferdeturm in Hanover as the site for its future headquarters, the company announced 14 June.
The company is holding official negotiations with the city of Hanover on the acquisition of two plots of land, north and south of Hans-Boeckler-Allee.
The plots cover a combined surface area of 37,600 square metres and Conti plans to structurally link the two plots should the headquarters be built there.
"We are planning to build our new headquarters there in the form of a modern construction with a campus-style design that is a striking feature for both the city and our company and facilitates communication,” said chairman of the Conti executive board Elmar Degenhart.
The Conti boss added that new site will have “reserve space” for potential developments in the future.
Signalling that the negotiations were on the right track, city mayor Stefan Schostok said Continental and Hanover belonged together.
“We will provide professional support in terms of design and construction for all further steps in the creation of modern Continental headquarters in Hanover with an interdisciplinary project team," said Schostok.
Continental announced in February that it was scouting for locations to move its corporate function to a new HQ.
Five locations in Hanover, as well as a nearby town of Garbsen were on the list.
"We made the decision in favour of Hanover after carefully considering all advantages and disadvantages based on important criteria such as costs, transport links, and administrative support,” said Degenhart.
The two parties hope to conclude the negotiations by the end of the year, with the transfer of ownership planned for the first quarter of 2017.
The move to the new headquarters is to be completed in 2020, well in-time to coincide with the group’s 150th anniversary in 2021.
Conti expects the project, including the acquisition of the plot, construction and interior design, to reach into the high double-digit million euro range.
The company told ERJ in February that it expected to increase the number of its corporate function staff from 750 to up to 1,250.
According to Continental, the company’s rubber division and ContiTech, which has a plant next to the current site, will not be part of the move.