23 April 2008

Continental is to sell its fuel supply activities to concentrate on its businesses in motors and powertrains. The business includes fuel transport and tank bleeding systems as well as pumps and fuel level sensors.

 

Karl-Thomas Neumann, recently appointed head of the new Powertrain Division, said the business was not one of the division's core activities. It was acquired with the Siemens VDO business taken over by Continental in 2007.

 

The fuel supply business unit employs 3,500 people worldwide with manufacturing at more than 10 locations in Europe, North America and Asia. The business generated a turnover of about €450 million last year.

 

Neumann said: "We continually assess both the possible acquisition of companies as well as options for selling company units.

 

"We are now looking for a purchaser who can give the business and the employees new perspectives via a focused strategy while simultaneously expanding their competence. We assume that we will have found a suitable purchaser by the end of the year."

 

• Earlier news story on restructuring of Continental's Powertrain Division, dated March 2008