Auto Industry
Industry: Email Alert RSS FeedConti's back in black after decade drought.
Tire Business, February, 2008
Byline: Bruce Davis
Continental Tire North America (CTNA) Inc. turned the corner last year, returning to the black for the first time in 10 years after getting costs under control and reporting sales gains across the board.
Conti did not disclose exact sales or earnings figures, but CTNA CEO Matthias Schoenberg said management is confident the company can at least repeat this performance in 2008, both in North America and throughout the Americas. Conti's tire sales in North America were estimated at $1.9 billion in 2006.
The major change in turning the corner was getting the passenger/light truck tire business operating profitably, Mr. Schoenberg said, which the firm accomplished in part by rejuvenating the product line, starting with the...
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