Continental AG has announced plans to sell its fuel supply business.
The business unit is part of the powertrain division and, although profitable and a market leader, is regarded as non-core, according to Karl-Thomas Neumann, the board member responsible for powertrain.
Neumann said that active portfolio policy is a key element of Continental’s strategy. “This means that we always continually assess both the possible acquisition of companies as well as options for selling company units. We take into consideration the market position and size of a business, its sustainable profitability, its strategic positioning and how much the current unit counts towards the core business of the company.” he explained. “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.”
The fuel supply unit currently employs a staff of 3,500 worldwide and develops and manufactures at 10 locations. The unit posted a turnover of approximately EUR450m last year.
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