ContiTech progresses plan to make automotive business "organisationally independent"

Hanover, Germany – ContiTech has initiated a plan to 'separate' its automotive business from other ContiTech business units by 2025.

In February, ContiTech announced a major restructuring programme involving the consolidation of its automotive activities into 'business area original equipment solutions' (BA OESL).

In a 22 Aug written statement to ERJ, the Continental group company said it had now “initiated the process to make OESL organisationally independent.”

According to the company statement, ContiTech aims to consolidate the automotive activites into OESL “within the next two years”.

“This will strengthen the strategic focus on industrial business already initiated and enable the automotive business to unfold its full potential,” it added.

The move, ContiTech noted, also opens up new strategic options for external investments in the automotive business.

“The project is currently in the concept phase," emphasised ContiTech, adding that, it would, therefore, not comment on further details at this stage.