Continental CEO eyes new business from Opel-Peugeot deal
Reuters
Published Mar 02, 2017 04:52AM ET
Continental CEO eyes new business from Opel-Peugeot deal
BERLIN (Reuters) - Continental (DE:CONG) expects a possible tie-up between PSA Peugeot Citroen (PA:PEUP) and General Motors' (N:GM) Opel division would boost its business, its chief executive said.
"Opportunities emerge because platforms will be standardized and higher and more interesting volumes will arise" for suppliers, CEO Elmar Degenhart said during a conference call after the automotive supplier published results on Thursday.
Separately, Continental said it planned to raise prices for summer and winter tires to help offset 500 million euros ($526.55 million) of expected headwinds from rising raw material prices this year.
Degenhart also said the company wanted to keep growing through acquisitions and had many ideas on M&A, but declined further comment.
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Written By: Reuters
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