Hanover, Germany – ContiTech AG is aiming to drive innovation through heightened focus on sustainability and digitalisation, according to the company’s new CEO Philip Nelles.
Nelles succeeded Hans-Jürgen Duensing as the new CEO of ContiTech business unit on 1 June, with a mandate to fulfill the company’s strategy which is aimed at developing ‘smart and sustainable solutions beyond rubber.’
In a 1 June statement, Nelles said ContiTech said he would continue the groundwork laid by his predecessor, which will include reducing dependency on the automotive industry's business cycles and diversifying customer portfolio.
Furthermore, he said, ContiTech will be committed to “increasingly leveraging the many promising business opportunities emerging in Asia’s growth markets.”
Over the course of 2020, ContiTech invested €180 million in the modernisation and expansion of production facilities globally, far below the €262 million reported the year before.
The decline, Nelles said, was due to the effects of the pandemic.
“Provided the business climate remains stable, we will once again be stepping up our investments – most notably in the ongoing digitalisation of our production plants,” he added.
The investments, Nelles noted, will mostly go towards integrated digital manufacturing and industry 4.0 across ContiTech’s global footprint.
As part of the process, the company also intends to train employees to make them “fit for future digital working environments.”