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Continental Weighs Car Parts Spinoff in Major Revamp
- German company considering split from tires business
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Automotive tires stacked at the Continental Tire distribution center in Sumter, South Carolina, U.S.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Continental AG may separate its struggling car parts business from the more successful tires operations in what would be the biggest restructuring in the German company’s 152-year history.
The move may include a spinoff and full listing, with a decision expected by the end of the year. The unit makes products including brakes and automated driving systems and accounts for roughly half of group sales. Continental would keep its profitable tires and ContiTech businesses.