Continental plans to sell division

German company Continental announced its plan to sell its "ContiTech" division, specialized in plastic and rubber products, for 4 billion euros. The move aims to focus on its tire business and strengthen its financial position. The company will use part of the proceeds to pay down debt and distribute approximately 2.5 billion euros to shareholders. The deal is expected to be finalized by the end of 2026. This step comes amid challenges facing the European automotive industry, including Chinese competition, weak demand, and the shift to electric vehicles.

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