123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Technology,-Gadget-and-Science >> View Article

Continental Sells Plant In Russia

Profile Picture
By Author: Santosh
Total Articles: 519
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Continental has sold its plant in Kaluga, Russia, to Russian company S8
Capital. With this step, Continental has divested the majority of its activities in Russia as part of its
announced controlled withdrawal from the Russian market – a decision taken by the technology
company in response to the war against Ukraine. The transaction has been approved by the
relevant authorities.
Continental produced passenger tires at the plant in Kaluga. Air conditioning and power steering
lines as well as parts for air suspension systems for the Russian market were also manufactured
there. The sale also includes a distributorship in Moscow that belonged to the Tires group sector.
The parties to the agreement have agreed not to disclose the purchase price or further details.
Continental and S8 have agreed that employees will be taken over as part of the sales contract.
Responsibility for the around 1,100 employees involved was always one of Continental’s key
considerations.
Continental continues to own shares in the joint venture with Russian company Mettem for the
...
... production of tachographs in Chistopol with around 10 employees. Here, the sales process is at an
advanced stage, but regulatory approvals are still pending.
The ContiTech group sector also has sales offices in Moscow with around 30 employees. Here,
too, Continental continues to aim for a controlled withdrawal.
Continental develops pioneering technologies and services for sustainable and connected mobility of people
and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable
solutions for vehicles, machines, traffic and transportation. In 2022, Continental generated sales of €39.4
billion and currently employs around 200,000 people in 57 countries and markets.

Total Views: 189Word Count: 251See All articles From Author

Add Comment

Technology, Gadget and Science Articles

1. Syneron Laser Repair Services: Restore Performance, Protect Your Investment
Author: Ryan

2. Sitecore Vs Optimizely: A Guide To Selecting The Right Dxp
Author: Addact Technologies

3. Hourly Price Insights: Amazon, Myntra, Meesho & Flipkart – 2025
Author: Den Rediant

4. Erp For Small Business: Fuel Growth With Smarter Systems
Author: Alex Forsyth

5. How To Implement Secure Authentication In Mern Stack Projects?
Author: Mukesh Ram

6. Uber Eats Menu Price Tracking For Ecosystem Analysis
Author: Retail Scrape

7. Ai Tracks Noon Vs Amazon.ae Price Gaps In Uae Retail Market
Author: Actowiz Solutions

8. Reimagine Brand Management With Wave: The Future-ready Platform
Author: 5Flow

9. Hire Virtual Receptionists And Let Them Do The Work For You
Author: Eliza Garran

10. Understanding Why A Virtual Answering Service Is Needful
Author: Eliza Garran

11. What Makes Helical Insight Unique Among Open-source Business Analytics Tools?
Author: Vhelical

12. The Event Management Website That India’s Top Event Companies Rely On
Author: Enseur Tech

13. Top 5 Reasons To Partner With App Developers Near Me
Author: brainbell10

14. How A Custom Mobile App Solves Real Business Problems?
Author: brainbell10

15. How App Developers Near Me Stands Out From The Competition?
Author: brainbell10

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: