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Continental is a leading tire manufacturer and industry specialist that develops and produces sustainable, safe and convenient solutions for automotive manufacturers as well as industrial and end customers worldwide.
Continental today announced the sale of its ContiTech group sector to an affiliate of Lone Star Funds for €4.0 billion. The transaction also includes performance-based components of up to €250 million in subsequent years. The sale of its industrial business is the final step in Continental’s realignment. Once completed, the DAX-listed company will become a pure-play tire manufacturer for the first time in its history.
Continental has decided to build its first company-owned wind farm near its tire plant in Korbach, in the municipality of Twistetal (Hesse, Germany). It will supply electricity to the tire plant in Korbach (Hesse), which is about eight kilometers away. With this project, the tire manufacturer is diversifying its energy supply, accelerating its transition to renewable energy, improving the plant’s cost competitiveness and reducing its dependence on energy markets.
Continental has supplied road bike tires to six teams competing in this year’s Tour de France. From July 4 to 26, over a quarter of the peloton will ride on tires made at Continental’s Korbach plant in Hesse, Germany. More than 1,000 road bike tires will be used over the course of the three-week event, with every tire produced and tested in Korbach.
Six teams will be competing on Continental bicycle tires. Continental provides more than 1,000 bicycle tires, over 400 tires for support vehicles and 120 motorcycle tires.
