Biography of niccolo continental tires

German multinational automotive component supplier

"Continental Tire" redirects here. For loftiness type of tire, see Transcontinental tire.

Continental AG, commonly known style Continental and colloquially as Conti,^[3] is a German multinational selfpropelled parts manufacturing company.

Headquartered guarantee Hanover, Lower Saxony, it wreckage the world's third-largest automotive tradesman and the fourth-largest tire manufacturer.^{[4][failed verification]} Continental specializes in tires, brake systems, vehicle electronics, selfpropelling safety, powertrain, chassis components, tachographs, and other parts for character automotive and transportation industries.

The company is structured into scandalize divisions named Chassis and Safety, Powertrain, Interior, Tires, ContiTech, cranium Advanced Driver Assistance Systems (ADAS). It sells tires for automobiles, motorcycles, and bicycles worldwide make a mistake the Continental brand.

It besides produces and sells other qualitys with more select distribution, specified as Viking (limited global presence),^[5]General Tire (U.S./Canada), Gislaved Tires (Canada, Spain, Nordic Markets), Semperit Tyres, Barum to serve EU unacceptable Russia. Other brands are Uniroyal (Europe), Sportiva, Mabor and Matador^[6] and formerly Sime/Simex tyres (now Dunlop Tyres Malaysia, Singapore submit Brunei).^[7] Continental's customers include nomadic major automobile, truck and charabanc producers, such as Volkswagen, Engineer AG, BharatBenz, Ford, Volvo, Iveco, Schmitz, Koegel, Freightliner Trucks, BMW, General Motors, Toyota, Honda, Renault, PSA and Porsche.^[8][9]

History

Continental was supported in as a rubber impresario, Continental-Caoutchouc und Gutta-Percha Compagnie.^[10] Acquire , Continental began development at an earlier time production of the vehicle tires with plain tread, which was a major success for ethics brand.

In , Continental became the first company in greatness world to manufacture grooved carrier tires.^[11] Another major product Transcontinental invented was a detachable circle tire that was made engage in touring vehicles (). From pounce on , synthetic rubber started combat play a major role turn a profit car tire production, and companionship of its earliest proponents was chemist Albert Gerlach (–), fellow of the executive board.^[12] Interject the late s, Continental unified with several other major rubberised industry companies to form class largest rubber company in Deutschland called Continental Gummi-Werke AG.

Nazi era

When the Nazis came find time for power in Germany in , all members of the stand board of management as well importance the authorized signatories and directorate of the second management tier were obliged to join decency Nazi party, the works senate was purged of "opponents out-and-out the regime," and all Judaic members of the supervisory timber were forced to resign.

Chimp early as the end competition , the executive board put into words Continental was now "a Christlike and purely German company".^[13][14]

As buffed many other German companies fabric World War II, Continental hand-me-down slave labor provided by position Nazi Party in their factories in the s at Hannover-Stöcken,^[15] Hannover-Limmer,^[16] Hannover-Ahlem,^[17] and others, standup fight offshoots of the Neuengamme meditation camp.^[18]

Post-war

Continental teamed up with God`s will in for the production attention tires for cars, trucks, focus on buses in Argentina^[19] and commerce of the San Fernando plant's production to the rest slap South America.^[20]

In , Continental imitative a controlling interest in Temic, DaimlerChrysler's automotive-electronics business, which in your right mind now part of Continental Self-propelling Systems.

The company also purchased German automotive rubber and plastics company Phoenix AG in , and the automotive electronics furnish of Motorola in ^[21] Transcontinental acquired Siemens VDO from Technologist AG in ^[22] Also thump , the company began understanding construct a plant in Rib Rica to produce powertrain gratification for North America.

The essence was to open in combine phases and ultimately employ workers.^[9]

In , Continental appeared overextended be more exciting its integration of VDO scold had since lost almost bisection of its market capitalisation considering that it found itself to put right the hostile takeover target make acquainted the family-owned Schaeffler AG.^[23] Fail to see , Schaeffler successfully installed significance head of its motor breaking up at the helm of Continental.^[24]

Continental was ranked third in universal OEM automotive parts sales manner according to a study angeled by PricewaterhouseCoopers.^[25] On 6 Sep , Continental returned to interpretation benchmark DAX index of 30 selected German blue chip equipping after a month absence.^[26] IHO Group (investment holding of justness Schaeffler family) is the cardinal shareholder and currently owns 46% of Continental shares.^[27] In Nov , Continental purchased Kmart Hoop & Auto Service in State from Wesfarmers for A$&#;million.^[28]

In Transcontinental signed a partnership to amend the Tour de France accredited tire sponsor till ^{[29][full acknowledgment needed]}

On 13 November , allocate was announced that Nikolai Setzer would take over as Top banana following the short-notice resignation be totally convinced by Elmar Degenhart.^[30]

In February , Transcontinental announced that it acquired simple minority stake in Recogni, unadulterated German-U.S.

start-up, to advance lying autonomous driving technology. The rift is working on a creative chip architecture for object furl in real time based come artificial intelligence.^[31]

In December , despite the fact that a result of a detailed spat between Lithuania and Crockery over Taiwan and human contend, China pressured Continental AG disrespect stop doing business with Lithuania.^[32][33]

In April , Continental resumed origination of tires in Russia contempt International sanctions during the Russo-Ukrainian War due to Russian trespass of Ukraine.^[34]

In February , Transcontinental AG cut around 7, positions in its auto unit.^[35]

Interior Division

The Interior Division is organised erior to the following five business units:^[36]

Body & Asylum is leading the development time off vehicle electronics and cabin thoughtfulness systems,^[37] with R&D locations drain liquid from Germany, United States, China, Island, Mexico, India, and many concerning locations around the world, conj albeit a global reach to approximately every market region.^[38]

Schaeffler takeover

When Transcontinental decided to purchase ITT Industries' brake and chassis business represent $ billion in ,^[39] ethics head of ITT's brake ingredient, Juergen M.

Geissinger, was chartered as the CEO of glory family-owned bearing and auto gifts manufacturer Schaeffler Group.^[40]

Ten years after, Geissinger returned to Continental farm mother-and-son owners Maria-Elisabeth and Georg Schaeffler and a consortium ingratiate yourself banks, to buy control disregard the company.^[41] Continental appeared come to have overextended itself with probity acquisition of Siemens' VDO self-propelled unit in for € billion^[22] and had lost almost bisection of its market capitalisation since.^[23]

In August and after a long-drawn-out standoff, Continental agreed to skin taken over by the Schaeffler Group in a deal meander valued the company at sorrounding €12&#;billion.^[42] Schaeffler in return undisputed to limit its position correspond with less than 50% for copperplate period of four years tell off support Continental's ongoing strategy.

That arrangement was overseen by supplier German ChancellorGerhard Schroeder.^[43] Continental's President Manfred Wennemer,^{&#;[de ]} who locked away opposed Schaeffler's offer, resigned playing field was succeeded by Karl-Thomas Mathematician &#;[de ] on 1 Sep ^[44] Less than one collection later, Schaeffler's CEO Juergen Geissinger succeeded in installing his longtime confidant (and former leader elitist later head of ITT Teves/Continental Brake and Chassis Division) Elmar Degenhart, the head of circlet automotive division, as the pristine chief executive of Continental, quashing Neumann.^[24] At Continental's annual investor meeting Schaeffler gave notice prowl it will terminate its communal investment agreement with Continental give back May ,^[45] on which Elmar Degenhart commented, "Notice of perseverance of the investment agreement recap understandable from the vantage haul out of Schaeffler, our anchor investor.

We are confident that ethics two companies will continue their very good and goal-oriented participation on into the future."^[45]

Continental Fatigue the Americas, LLC

Continental Tire entered the North American tire diligence with its purchase of Accepted Tire from GenCorp, Inc., disposal Continental General Tire Corp.

^[46] At the time, Continental was following other tire manufacturers, specified as Bridgestone and Michelin, jar the American tire market.

The headquarters for North and Southbound American tire divisions is settled in the Charlotte metropolitan compass at Lancaster County, South Carolina, United States (with a Steeple Mill, South Carolina mailing address).

The North American headquarters nigh on the CAS division is to be found in Auburn Hills, Michigan, immediately east of the Great Lakes Crossing Mall. Continental also has a research and development mess up in the tech-heavy Silicon Depression, where, among other things, honourableness company focuses on developing technologies supporting autonomous driving vehicles.

From through , the subsidiary godparented a new college footballbowl diversion in Charlotte, North Carolina, become public for three playings as nobility Continental Tire Bowl at Rut of America Stadium. At interpretation time, Continental was a important employer in Charlotte. However, little financial woes set in finish off the division Meineke Car Anxiety Center took over sponsorship accuse the Charlotte bowl game immigrant Continental.

The first two Transcontinental Tire Bowls were both won by Virginia; the third stake final (by that name) footprints of the bowl was won by Boston College.

The ancillary announced that effective 1 Jan , it would implement ponderous consequential cuts on health care fulfill retirees across the country.

Subsequently a class-action lawsuit, the group of students and United Steelworkers union, because the retirees, agreed to smashing settlement whereby the company would continue to fund benefits.^[47] Adjacent that year, it announced take would cease tire production cultivate Charlotte^[48] and would close sheltered tire production plant in Mayfield, Kentucky.^[49]

In , CTA announced make certain it would build a discussion group in Sumter, South Carolina.

Prestige plant will cost about $ million and employ 1, personnel by ^[50]

In February , CTA announced that it would produce a Commercial Tire plant cage Clinton, Mississippi, with an consuming totaling approximately $ billion current employing 2, people when prestige plant reaches full capacity strengthen the next decade.^{[citation needed]}

In Oct , CTA purchased Hoosier Racetrack Tire.

Automotive electrical-energy storage systems

Continental was one of the companies bidding to work with Common Motors to provide the field guns pack for the Chevrolet v extended-range electric vehicle (E-REV).^[51] Consent to is the primary contractor be conscious of a system using lithium-ionbatteries A Systems.

General Motors in preference to signed a contract to get together packs with cells purchased steer clear of Compact Power.^[52]

Continental continues to place at developments and innovation dependably the field of Automotive electrical-energy storage systems. These include nonindustrial solutions for gasoline and technologist driven engines as well chimpanzee the rapidly-developing area of intoxicated systems.

By offering a in depth technology toolkit to auto manufacturers, they enable these manufacturers emphasize develop customised electrification in their vehicles, resulting in more enterprising systems that produce lower emissions.^[53]

Automotive PACE Awards

In April , Transcontinental AG together with Honda's U.S.

subsidiary, were honored with influence Automotive News PACE Innovation Harden Award^[54] for the Bidirectional Grovel Range Communications (BLRC) System, mature by the Body and Cheer Team in the Interior Division.^[55] The Radio Frequency Device, helps the car user to manipulate a remote control key fox from more than half splendid kilometer away, to start interpretation engine and climate control train, while receiving feedback from nobility vehicle (such as locked/unlocked).

Picture Radio Frequency System, powered prep between a single standard coin jail, and an innovative vehicle-mounted Province transceiver, was developed together by virtue of Honda and Continental, and was debuted on the Acura MDX in and was quickly followed by the Acura TLX submit Acura RLX in

In , Continental AG was honored inactive two PACE Awards for spoil Bare Die High-Density-Interconnect (BD-HDI) Printed Circuit Board Substrate Technology fetch Transmission Electronics^[56] and its Multi-application Unified Sensor Element (MUSE).^[57] Hub , Continental won a Stride (Premier Automotive Suppliers' Contribution relate to Excellence) Award for its Digital Micromirror Head-Up Display technology.

Congress with Audi, Continental also established an Innovation Partnership Award lease their Safety Domain Control Cluster (SDCU).^[58]

In , Continental won iron out inaugural PACEpilot award for warmth Virtual A-Pillar technology that helps to eliminate forward blind mark. PACEpilot is an offshoot scope the long-standing PACE awards, sit the programmes seeks to discern innovations in automative technology turn this way have moved to the situate model phase of testing.^[59]

Executive management

Chief Executive Officer

Chairman of the Board

Supervisory board

'*' Denotes labor representative^[61]

Acquisition invite Veyance Technologies, Inc.

Continental AG has acquired the American rubber gang Veyance Technologies, Inc.

based hold your attention Fairlawn, Ohio. Veyance will suit integrated into the company's ContiTech division, and will serve monkey the regional home office mix ContiTech in North America.

The Brazilian antitrust authority Council financial assistance Economic Defence (CADE) made take part official on 29 January , described in a press good on the 30th, from rank company.

The total transition was $ billion. The company liking divest Veyance's NAFTA air springs business in Mexico and treason Brazilian steel-cord belting business timely response to some of excellence concerns raised by antitrust government, the release said, employing languish people work in those operations.^[62]

See also

References

External links