REGENSBURG, Germany — Continental has announced plans to sell its Fuel Supply (FS) business segment, which is part of the Powertrain Division. The FS segment involves fuel transport and tank bleeding systems and posted a turnover of approximately $708 million last year.
The Fuel Supply business segment currently employs a staff of 3,500 worldwide at more than 10 locations.
"As this business is not among the core activities of the division, which focuses on components for motors and powertrains, we have decided to sell it after an in-depth analysis," said Dr. Karl-Thomas Neumann, the Continental Board Member responsible for the Powertrain Division.
Neumann mentioned 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,” Neumann said. “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 toward the core business of the company. 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."
Neumann added that the Continental expects to have found a suitable purchaser by the end of the year.
