Conti CEO: Tire maker to close at least one plant

HANOVER, Germany - Continental AG Chief Executive Manfred Wennemer said on Tuesday the group would close at least one tire plant in the first quarter of 2002.

He told Reuters in an interview that the German tyre and parts maker may move further capacity to eastern Europe from western Europe.

Wennemer also said the company aimed to strengthen its activites outside the automobile sector.

Conti earlier warned that 2001 operating profit would fall steeply from 2000's level.

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