Conti Moves Ahead with IPO for Powertrain Unit
Continental AG intends in early July to unveil a new corporate structure and make an initial public offering of a portion of its powertrain division, sources tell Bloomberg News.
Details are still being worked out. But the news service says the supervisory board’s favored option is to spin off the portion of powertrain operations that makes parts for internal combustion engines. The unit generated sales of €7.7 billion ($8.9 billion) in 2017.
Proceeds from the IPO would be invested in such growing markets as electrification and autonomous vehicles. Bloomberg’s sources say Conti’s board has dropped a proposal by the company’s largest stockholder, the Schaeffler family, to spin off the business to current investors.
Conti has been considering a restructuring since late last year. Bloomberg says the company is preparing to present the results of its review to shareholders.
The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).
According to Sandor Piszar, Chevrolet truck marketing director, “We engineer and build our trucks with customers’ expectations in mind.”
Effective management is a timeless skill—as demonstrated by this treasure of an article from the AutoBeat Group archive. Although the tools of the trade have changed and proliferated, the basics remain the same. Here are 8 old school (and just darn practical) rules for being an excellent manager.