Continental Logo – The Continental AG (short- Conti ) is a publicly traded company in the automotive industry , based in Hanover. Majority shareholder of the company after a takeover bid in 2008, the Schaeffler Group .
The company can boast of about 164,000 employees who are employed at over 200 locations in 46 countries In Germany, Continental is the market leader in tire production , the company has evolved over the years, however, developed from a pure tire manufacturer into one of the largest automotive suppliers worldwide (in Europe, the Group is the number two) .
Elmar Degenhart on 12 August 2009 the new chairman of Continental AG determined.
Nucleus of today’s Continental AG was the bankruptcy of small rubber manufacturing company New Hanover Rubber Waarenfabrik, 1869 by the banker Moritz Magnus was acquired for 18,500 dollars. He grouped nine-heeled investors and experienced manufacturers of founding shareholders of Continental Caouchouc and Gutta-Percha Compagnie, on 8 October 1871 as a joint stock company with registered capital of 300,000 crowns was established (the equivalent of 900 000 marks ). These included the three shareholders of the company “Hanover Rubber Comb Company OHG” who possessed technical production skills with the one-time new material and 27% of the shares held. The founding shareholders a clear separation of production areas agreed: The new company was to produce soft rubber goods, Hanover continues the existing rubber comb the traditional hard rubber goods. This agreement was about two decades.
On 4 August 2004 confirmed the German tire manufacturer Continental in the course of its sales report, that he by restructuring measures, moreover, despite favorable forecasts the tire production at its U.S. plant Mayfield in Kentucky intends to set the year. In November 2004 the company had announced that their leading market position in the U.S. electronic stability control (ESP) for cars was able to expand further.