With an aim to increase effectiveness and efficiency as well as customer and market proximity, Continental’s group sector, which specialises in material-driven solutions, will focus more strongly on expanding its industrial business as a part of realigning its ContiTech group sector.
Additionally, ContiTech is also consolidating its automotive business to create synergies. The changes will come into effect from the beginning of May 2023.
In addition, the group sector aims to respond in a more integrated way to the constantly changing requirements of its customers in various markets and industries.
Philip Nelles, Member, Continental Executive Board and CEO, ContiTech Group Sector, noted that the company aims to develop the industrial business further and create synergies for its automotive activities as a part of its realigning strategy.
He added that the industrial business of the ContiTech business is facing particular challenges due to the current transformation in the automotive industry.
The focus is, therefore, also on increasing speed and efficiency; for example, by accelerating decision-making processes, streamlining central functions and reducing hierarchical levels, Nelles added.
In line with the prevailing customer structure, the industrial business will be divided into three business areas with a regional focus, namely, Industrial Solutions Americas, Industrial Solutions APAC (Asia & Pacific) and Industrial Solutions EMEA (Europe & Middle East).
The majority of ContiTech’s automotive activities will be consolidated in the Original Equipment Solutions business area, which will operate globally as per its customer structure.
The Surface Solutions business area will retain its current structure due to the nature of its own portfolio and customer base and its high degree of product development connectivity between its segments.
The Automotive Interior segment will serve suppliers to the automotive industry, while LivTec will focus on private consumers.
Interestingly, within ContiTech’s central functions, the new position of a Chief Technology Officer will drive the expansion of its materials expertise.
This will be achieved through comprehensive and cross-functional research activities and the development of material-driven, value-creating and sustainable solutions for customers.
With its realignment, ContiTech is laying the groundwork for transitioning from a traditional product supplier to a provider of integrated solutions, a press release from Continental noted.
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