The sales process for the business with rubber products for car manufacturers, Original Equipment Solutions (OESL), will begin in the first quarter of 2025, the DAX-listed company announced on Wednesday after a Supervisory Board meeting. The business area with more than 16,000 employees is currently being presented to potential buyers. Continental is focusing more strongly on business with industrial customers in the division, it added.
The automotive business under the leadership of Philipp von Hirschheydt is also to be listed on the Frankfurt Stock Exchange by the end of 2025. Continental has announced a Capital Markets Day for the summer of 2025, at which the short and medium-term goals will be presented. Supervisory Board Chairman Wolfgang Reitzle spoke of an important milestone towards consistently increasing Continental's value.
The tire manufacturer and automotive supplier announced in August that it would float its fluctuating and low-margin automotive business on the stock market. The bottom line is that the automotive business has not been able to generate a profit since 2018. Many automotive suppliers are groaning under the dilemma that unit sales and margins are coming under pressure and they have to invest in electromobility at the same time.
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