Finance
Continental's ContiTech division to close four plants in Germany
Continental's ContiTech division to close four plants in Germany
Published by Global Banking and Finance Review
Posted on January 30, 2025
(Reuters) - German car parts supplier Continental's ContiTech division is to fully close down four plants and make personnel changes at two other sites, affecting a total of 580 employees, the company said on Thursday.
ContiTech plans to fully shut down its plants in Bad Blankenburg, Stolzenau and Moers, as well as the dual sites in Frohburg and Geithain, all situated in Germany.
Production at the Hannover-Vahrenwald plant is expected to end in the first half of 2026 and be transferred to the Czech Republic, while activities at the location in Hamburg are to be scaled down, the company said.
(Reporting by Tristan Veyet in Gdansk, editing by Friederike Heine)
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