Continental AG is putting in place funds for future acquisitions.
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According to a report in the Frankfurter Allgemeine Sonntagszeitung, the company is preparing a two-figure billion euro pot to fund future growth.
Alan Hippe, CFO of Continental, is quoted, saying that the company is expecting to be able to grow organically by around five percent this year, but that customers are demanding that the company take on more contracts.
Continental is due to present Q1 figures later this weak.
In the article Hippe confirmed that Continental is still interested in acquiring Siemens VDO. Siemens has not yet decided whether it is interested in selling its components division to Continental or any other supplier, such as TRW. Instead it may proceed with earlier plans to float arund half of the company.
