ContiTech sales grow

ContiTech increased its sales to around €5.4 billion in 2015. This equates to growth of 37 per cent. Veyance Technologies Inc, which was acquired at the beginning of 2015, contributed roughly €1.15 billion to sales in total. This represents organic growth of 4 per cent. “We are very satisfied with this result. The currently strong automotive industry in addition to positive performances in some industrial sectors have provided us with momentum. This is enabling us to cushion the continuing decline in mining- and oil-dependent business, which accounts for roughly 18 per cent of our sales at present. This demonstrates yet again that our broad portfolio puts us in a strategically strong position,” explained Hans-Jürgen Duensing, member of the Executive Board of Continental responsible for the ContiTech division, at a press conference held at Hannover Messe 2016.