Continental says pension costs may hit net profit

Newswire

FRANKFURT, Oct 31 (Reuters) - German tyre and car parts maker Continental AG said on Thursday its 2002 net profit might be cut by up to 180 million euros ($177.7 million) due to underfunding in its U.S. pension fund. The company is the latest to have to dig into its pockets to top up pension funds which have been ravaged by declines in world stock markets. A Continental spokesman said the company had already paid 150 million euros into the fund in the first half of the year to cover ...

Premium Content (PAID Subscription Required)

"Continental says pension costs may hit net profit" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×