FACTBOX-Facts about Germany's Continental


July 30 (Reuters) - Germany's Continental is the takeover target of family-owned Schaeffler Group.

Here are some facts about Continental:

** Continental makes car and truck tyres as well as brake, safety and fuel injection systems. It also makes the technology behind satellite navigation and dashboard consoles. It made a net profit of more than 1 billion euros ($1.56 billion).

** Founded in 1871, the company originally made bicycle tyres. It is now the world's fourth-largest tyre maker, a business which generates roughly a quarter of Continental's annual sales of over 26 billion euros.

** It expanded into chassis and safety systems with the purchase of Teves in 1998. In 2007, it bought car electronics specialist VDO for over 10 billion euros to become one of the top five car parts suppliers worldwide.

** Continental, which has 150,000 staff, had net debt of 11.2 billion euros as of the end of the first quarter. Chief Executive Manfred Wennemer (60), known for cutting costs rigorously, has presided over a shift of production to low-wage countries. His contract runs out at the end of 2011.

** Continental shares are widely held. Large stakeholders include Capital Group, Barclays, Axa, Societe Generale and Morgan Stanley.

(Reporting by Cornelia Krause; Editing by Paul Bolding)



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