Continental Sells ContiTech Rubber and Plastics Division for €4 Billion
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German automotive supplier Continental is selling its ContiTech rubber and plastics division in a deal valued at approximately €4 billion. The transaction is expected to generate net cash proceeds of around €3.1 billion for the company. ContiTech, which produces rubber and plastic components for a range of industries including automotive, is one of Continental's major business units. The sale is part of a broader restructuring trend among large European industrial groups seeking to streamline operations and focus on core activities amid ongoing pressure from the transition to electric vehicles and shifting global demand.