Continental unveils rejig; to spin off Powertrain

Hanover, Germany – Continental AG is planning to reorganise by 2020 into a holding company with three business sectors – rubber, automotive and powertrain – with the powertrain business being set up as an independent, publicly held company.

Conti’s executive board has signed off on the proposal, which now must be approved by the company’s supervisory board, which includes representatives of the firm’s labour unions.

Conti said this move will allow it to continue to grow faster than its relevant markets and take full advantage of new…

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