Continental’s North America Automotive Aftermarket business received three gold awards, two silver, as well as the best-in-show and judges’ choice recognition from the AAF for their “creative spirit of excellence in the art of advertising.”
The Extreme Duty Poly-V straight-ribbed belt performs better under higher underhood temperatures, thereby resulting in lower emission standards, and comes with a 100,000-mile guarantee.
Continental, an international automotive supplier, tire manufacturer and industrial partner, has announced its Elite RPM Grand Prize Winner for 2016.
Continental, a leading worldwide manufacturer of automotive and heavy-duty aftermarket products, has introduced at the AAPEX 2016 Show an aftermarket handbook for installers to use as an aid in customer service in the service bays or showroom.
Continental Focuses on Professional Repair Technicians With New ‘We Get It!’ Automotive Aftermarket Theme
Continental, a leading worldwide manufacturer of automotive and heavy-duty aftermarket products for a variety of applications, is emphasizing its commitment to “Elite” automotive technicians through a new aftermarket theme entitled, “We Get It!”
Continental, a leading worldwide manufacturer of automotive aftermarket products, is introducing to the North American market at AAPEX 2016 a new catalog for its expanded line of Elite-branded timing kits.
The briefcase-sized kit contains 16 12-inch-sized belt samples representing the automotive, industrial, outdoor power equipment, sport and heavy-duty truck markets.
NASCAR® Sprint Cup teams can race with the confidence knowing they still have the same Quiet Channel Technology™ under the hood this season even though their preferred Poly-V® belts now carry a new brand name – Elite® by Continental. Drivers who stick to streets and highways rather than race tracks can be just as confident.
FAIRLAWN, Ohio—With the purchase of Veyance Technologies Inc. completed, ContiTech A.G. is moving quickly to establish itself in North America.
HANOVER, Germany and FAIRLAWN, Ohio – Continental concluded its acquisition of the U.S. rubber company Veyance Technologies Inc., of Fairlawn, Ohio, on Jan. 30.
The Brazilian antitrust authority CADE (Council for Economic Defence) cleared the transaction on Jan. 29 with certain conditions, thus providing the approvals necessary for completion. Continental is boosting its worldwide industrial business with this acquisition, which is the most significant acquisition in recent corporate history. The transaction is valued at 1.4 billion euros (approximately $1.6 billion).
Veyance operates globally in the field of rubber and plastics technology and in 2013 recorded sales of some 1.5 billion euros ($1.7 billion). The workforce at its 27 plants around the world totaled 8,500 at the end of 2013. Veyance Technologies generates around half of its sales in the U.S. Other important markets include Latin America, Africa, China and other countries in Asia. The product focus is on conveyor belts, hoses and power transmission belts. In 2013, ContiTech and Veyance together achieved sales totaling some 5.4 billion euros ($6.1 billion) and employed around 38,000 staff worldwide.
“By integrating Veyance in our ContiTech division, we are expanding our global position in rubber and plastics technologies," said Dr. Elmar Degenhart, chairman of Continental’s Executive Board in Hanover. "In addition, this acquisition will bring Continental a significant step closer to its strategic goal of further increasing the proportion of industrial and end-customer business in its sales. Continental has financed the acquisition entirely from liquid funds and available lines of credit. Veyance will make an immediate positive contribution to the corporation’s profitability.”
“Both the workforce and the customers stand to profit from the merger of the two companies,” said Heinz-Gerhard Wente, a member of Continental’s Executive Board and CEO of the ContiTech division. “Veyance will complement ContiTech in markets in which we have been underrepresented up till now. Another very important point is that the acquisition will enable us to significantly expand our industrial and end-customer business and, as a result, enable ContiTech to achieve a share of almost 60 percent of its sales outside the automotive original equipment sector.”
ContiTech’s Conveyor Belt Group (conveyor belt systems), Fluid Technology (hoses and hose assemblies) and Power Transmission Group (power transmission belt systems) business units will benefit in particular from the improved global alignment, the company stated.
Because of the significance of the acquisition, antitrust authorities worldwide had spent the past 11 months scrutinizing the purchase and its impact on the respective markets. In response to the structural concerns expressed by some of the antitrust authorities, Continental will divest Veyance’s air springs business in NAFTA and its current steel-cord belting business in Brazil. In total, around 600 employees work in the operations are to be divested.
Looking ahead, it will be interesting to see how the two mega deals in the non-tire rubber sector turn out over the long run.
Veyance Technologies Expands Outdoor Power Equipment Program, Adds Insta Power® and Specialty Application Belts
Veyance Technologies, Inc., manufacturer of Goodyear® Engineered Products, announces the expansion of its Outdoor Power Equipment Program (OPE) with the addition of 49 new Insta Power® and 52 new Specialty Application belts. The additional part numbers complement Veyance’s existing OPE product offering.
Insta Power® belts with Flexten® are designed to deliver premium, long-life performance in demanding outdoor power equipment environments. The high-strength Flexten® cord reduces elongation under high horsepower and shock loads. Specialty Application belts supplement the Insta Power® belt line by providing full coverage on popular lawn and garden applications and are engineered to match specific original equipment belt specifications.
Continental AG plans to purchase Veyance Technologies Inc. from the Carlyle Group for an estimated $1.91 billion.