Continental Weighs Selling Automotive Part of ContiTech Unit
- Business generates around €2 billion in annual revenue
- German car-parts maker has been grappling with inflation
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Continental AG is considering selling part of its ContiTech business — which makes products including industrial hoses and conveyor belts — as the automotive supplier reorganizes to deal with the industry’s shift to electric vehicles.
Continental plans to split off the automotive part of ContiTech to prepare it for a potential sale, a new investor or a joint venture, according to a company presentation seen by Bloomberg.