Conti set to initiate sale of ContiTech automotive parts unit in first quarter of 2025

Hanover, Germany – Continental AG expects to start the sale process of ContiTech’s original equipment solutions (OESL) business in the first quarter of 2025, the German group has announced.

The divestment is taking place in the context of making ContiTech, the industrial and materials arm of Continental, more focused on industrial customers. (ERJ report)

As previously indicated, OESL, which supplies rubber products to automotive manufacturers, will be made independent "in the near future," said Continental 18 Dec.

The business area, which employs over 16,000 people across 16 countries, is currently being presented to potential buyers and partners, the German technology group added.

Meanwhile, Continental said it is advancing the spin-off of its Automotive group sector, with the aim to create a ‘European’ entity (Societas Europaea, SE) to be listed on the Frankfurt Stock Exchange by the yearend.

The independent company will operate under a new brand, which is to be launched by the end of April 2025.

The company will be led by Philipp von Hirschheydt, who has headed the group sector as a member of Continental’s executive board since May last year.

The short and mid-term targets for Automotive as an independent company will be disclosed at “Automotive’s Capital Market Day”, set to take place next summer, explained Von Hirschheydt.

“The Automotive spin-off will unlock new strengths, because focused companies are more agile, especially in times of transformation,” said Wolfgang Reitzle, chairman of Continental’s supervisory board.