ContiTech AG Overview
Company Headquarters: Hanover, Germany
Founded: 1871
Workforce: ~ 243,226
Company Working: ContiTech AG (ContiTech) is a multinational producer and distributor of several systems and functional parts made from rubber, metals, polyamide, and textile. It also offers electronic components for plant and machine engineering, as well as the automotive and mining industries. The company mainly has two groups, namely the rubber group and automotive group, through which it sells its products. The rubber group is further sub-divided into Tires and ContiTech. The ContiTech division is further segmented into seven units. Under the surface solutions unit, ContiTech offers artificial leather. The company has operation in 544 locations in over 60 countries, across regions including North America, Europe, Asia Pacific, and Latin America.
Strategy
ContiTech is focusing on offering better products and solutions with high investments in research and development. The company had invested USD 3.5 billion in R&D in 2018. The company also aims in the global balanced distribution of regional sales, which allows them to be less dependent on individual regional sales markets and prevent the effects of economic fluctuations. This helps them to create equal opportunities in the Asia-Pacific and North America markets while keeping a stronghold in the European market.
