ITT, Continental AG Sign Strategic Agreement

ITT, Continental AG Sign Strategic Agreement

Under the 10-year agreement, ITT will supply Continental’s ATE brake pads brand with sustainable copper-free pads and ceramic pads.

ITT Inc. announced it signed a 10-year strategic agreement for the supply of aftermarket brake pads to Continental AG (Continental). The agreement is expected to generate more than $1 billion in revenue over the term, the company says.

Under the agreement, ITT Friction Technologies (which operates within the Motion Technologies segment that accounts for over 45% of total company revenues) will supply Continental’s ATE brake pads brand with sustainable copper-free pads and ceramic pads for enhanced performance, the company says. The contract begins on Jan. 1, 2024, immediately after the current agreement expires, and extends until Dec. 31, 2033.

ITT says the agreement is comprised of three parts:

  • A contract to produce ATE premium line brake pads for cars and light commercial vehicles.
  • A brand licensing agreement allowing Continental to market and sell highly trusted brake pads from Galfer, an ITT brand.
  • An exclusive agreement for the production of other Galfer braking products for cars and light commercial vehicles.

“Continental is an iconic name in the automotive space and we’re honored to extend our partnership with them,” said Luca Savi, ITT’s chief executive officer and president. “This agreement demonstrates the confidence Continental and car owners have in ITT’s ability to deliver quality products on time. We’re excited about the value created for ITT and Continental through this continued partnership.”

You May Also Like

SMP Released 222 New Part Numbers in May

The release provides new coverage in 69 different product categories.

Standard Motor Products, Inc. (SMP) released 222 new part numbers in its May new number announcement. This most recent release provides new coverage in 69 different product categories, and more than 60 part numbers for 2022 and 2023 model-year vehicles, the company says.

SMP says the new additions to Standard’s Collision Repair and ADAS Programs include Radiator Active Grille Shutter Actuators for 6.3 million Ford vehicles including the 2022-18 Expedition, 2020-15 F-150 and 2019-16 Explorer. A total of 18 new Park Assist Cameras have been added for many popular vehicles, including the 2021-16 Lexus IS300 and 2019-17 Ford Super Duty. Newly added Cruise Control Distance Sensors offer coverage for the 2019-16 Ford Explorer and Police Interceptor Utility, as well as the 2018-15 Edge. Additionally, Park Assist Sensors are now available for popular Ford SUVs including the 2019-15 Explorer.

PhaseZero, Dana Partner on Digital Commerce Solution

The cloud-based solution delivers one global, modern customer-experience platform.

EnerSys Unveils ODYSSEY Connect Battery Monitoring System 

The information received through the system is communicated via Bluetooth to any Apple or Android smart device.

PPG Launches Automotive, Industrial Paint Films Solutions

Joint venture with entrotech, Inc. forms PPG Advanced Surface Technologies.

CRP Automotive Offers 2 New Pentosin ATFs

Pentosin ATF 64, approved by GM, Ford, JASO 1-A-LV, provides exceptional anti-shudder performance, the company says.

Other Posts

Cummins to Acquire Portion of Faurecia’s CV Exhaust Business

Cummins will purchase Faurecia’s commercial vehicle manufacturing plants in Columbus, Indiana, and Roermond, Netherlands.

Bridgestone Grand Touring Tire for EVs Makes World Debut

The new Turanza EV grand touring tire made its world debut at Electrify Expo.

Continental, Imagry Collab on Autonomous Parking Tech

Imagry’s technology approach is an add-on to Continental’s software stack solutions for assisted and automated driving.

BorgWarner Dixon Site Awarded CEO’s Safety Excellence Award

The location has recorded more than 1 million accident-free working hours.