September 10, 2019 / 11:48 AM / a month ago

Continental aims to decide on productivity steps by year-end: CEO

Continental CEO Elmar Degenhart attends the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - German automotive supplier Continental AG (CONG.DE) aims to decide on measures to improve productivity by the end of the year, CEO Elmar Degenhart said on Tuesday.

There are no targets to close a specific number of sites or cut a specific number of jobs, Degenhart said ahead of the IAA auto show in Frankfurt.

He added that he did not expect a partial initial public offering of Continental’s Vitesco division next year, pointing to the wider economic situation.

Reporting by Jan Schwartz; Writing by Thomas Seythal; Editing by Madeline Chambers

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