Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed

Continental AG is a German manufacturer of tires, automotive electronics and other components.

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed
Revenue(RF), mln.USD
236
Assets(RF), mln.USD
370
Capital(RF), mln.USD
297
Glob.Revenue, mln.USD
41437
Staff(RF), 2021
2231
Taxes(RF), mln.USD
8

On August 1, 2022 the Continental plant producing automobile tires started working again in Kaluga. Continental predicts higher margins, selling Russia operations. "The war is the reason for our controlled withdrawal from Russia. This means the sale of our activities, including our factory in Kaluga. We are in advanced stages of the sales process," Setzer said. Continental has sold its plant in Kaluga, Russia, to Russian company S8 Capital. With this step, Continental has divested the majority of its activities in Russia as part of its announced controlled withdrawal from the Russian market – a decision taken by the technology company in response to the war against Ukraine. The transaction has been approved by the relevant authorities.

The Company Statement
May 22, 2023

Temporarily resuming the production of passenger tyres for the local market at our tyre plant in Kaluga if necessary. 23.05.2022: Ambrose Kristzhan is no longer the general director of the organization, Vladimir Vasilievich Barvinok becomes the new general director of the organization. Germany's Continental aims to sell its tyre plant in the Russian city of Kaluga to S8 Capital. Continental decided to leave Russia in March 2023 and has already received permission from Moscow, but asked the American Ministry of Trade to check the deal before closing, the answer is delayed. 23.05.2023: JSC "S8 INDUSTRIAL ASSETS" becomes the new founder of the organization. Records about previous founders were removed: PRIVATE COMPANY LIMITED LIABILITY CONTINENTAL GLOBAL HOLDING NETHERLANDS, SIJIECH HOLDING B.V. and CONTINENTAL GLOBAL HOLDING NETHERLANDS B.V.

August 25, 2023Continental records $85M expense to exit Russia | Rubber News
April 28, 2023At the exit from the Russian Federation, Continental stalled in the USA: The German company is waiting for the approval of the deal from the US authorities
April 28, 2023Kommersant learned about Continental's expectation of US permission to leave Russia
April 19, 2023Continental plans to sell Russian tyre plant to S8 Capital -FAZ
April 19, 2023Continental plans to sell Russian tyre plant to S8 Capital -FAZ
March 13, 2023Continental rolled up a buyer
March 08, 2023Tire manufacturer Continental announced plans to leave the Russian market
March 08, 2023Continental predicts higher margins, selling Russia operations
July 29, 2022Continental tire plant in Kaluga will resume work from August 1
June 30, 2022Should other foreign tire manufacturers leave Russia?
May 19, 2022Continental restarts tyre making at Russian plant to protect workers
March 11, 2022Continental Suspends Production at Plant in Russia
March 09, 2022Conti suspends tire production at Russian plant
March 08, 2022Tire manufacturer Continental suspends operations in Russia
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