Based in Hanover, Germany, Continental AG is an automotive and auto parts manufacturing company whose roots trace back to 1871. The company’s expertise lies in the production of brake systems, powertrain and chassis components, tires and interior electronics, amongst others. They are currently the world’s fourth-largest tire manufacturer behind only Bridgestone, Michelin and Goodyear. The company started out as a rubber manufacturer. In 1904, they became the world’s first producer of grooved tires for vehicles. In 2016, autonews.com ranked Continental fourth on their global 100 list of OEM automotive parts retailers. Continental earned €44.550 billion in revenue in 2017 and currently employs more than 235,400 people. In August 2008, the Schaeffler Group successfully completed a take-over bid for Continental. In the ensuing years, the Schaeffler Group has reduced its ownership share from 75 per cent to its current standing of 46 per cent. The Schaeffler Group has had managing control of Continental since 2009. In recent years, Continental has sought to acquire cutting-edge technology companies to ensure its market domination long into the future. In 2017, Continental acquired Argus Cyber Security, one of the world’s leading suppliers in the field. That same year, the company bought the Hornschuch Group, a specialist in surface materials.
- Family name: Schaeffler family
- Sector: Automotive & Transportation
- Founded: 1871
- Founder:
- Country: Germany
- Company headquarters: Hanover, Germany
- Managers: Wolfgang Reitzle (Chairman) Elmar Degenhart (CEO)
- Revenue: US$42.6 billion
- Rankings: 250 [Fortune 500]
- Family ownership: 46%
- Employees:169,639
- Website: https://www.continental-corporation.com
