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.

ATTENTION COMMENTERS: Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.

Email Newsletters
  • General newsletters
  • (Weekdays)
  • (Mondays)
  • (As needed)
  • Video newscasts
  • (Weekdays)
  • (Weekdays)
  • (Saturdays)
  • Special interest newsletters
  • (Thursdays)
  • (Tuesdays)
  • (Monthly)
  • (Monthly)
  • (Wednesdays)
  • (Bimonthly)
  • Special reports
  • (As needed)
  • (As needed)
  • Communication preferences
  • You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.