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SWEDEN

Continental: Strengthens industrial operations with acquisition of NorrVulk AB in Sweden

Sugar Mizzy July 4, 2022







Press release

July 4, 2022

Continental strengthens industrial operations with acquisition of NorrVulk AB in Sweden

  • Continental is expanding its range of services further in close proximity to industrial customers
  • The business will be integrated into Continental’s business area Conveying Solutions, one of the leading specialists for transport and off-highway solutions worldwide
  • NorrVulk is one of the key suppliers of conveyor belt systems and related services to the mining industry

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In Jehander’s quarry, Continental conveyor belts are used to smoothly transport debris from Stockholm’s mega tunnel so that it can be reused for the road construction required in the infrastructure project.

Stockholm, July 4, 2022. Continental has acquired the specialist NorrVulk AB, a specialist in conveyor belt systems and services, based in Gällivare, Sweden. The acquisition complements the technology company’s portfolio for sales of conveyor belt systems and related services and strengthens the business with industrial customers in this region. “With NorrVulk, we have succeeded in acquiring one of the leading suppliers of conveyor belts and related services in northern Sweden. The acquisition underlines our goal to further expand our service operations directly with our customers and adjust our focus accordingly,” explained Song Qi, who is responsible for the global operations with solutions for conveyor belt systems at Continental. Completion of the acquisition is subject to the approval of the competent antitrust authorities. The two parties have agreed not to disclose the purchase price.

NorrVulk AB has 16 employees in Gällivare, Sweden. As one of the key suppliers for the sale of conveyor belts and related services in the mining business, the company offers the entire range of services in this area in the northern country, which has a strong mining tradition. This includes sales of individual conveyor belts and on-site installation as well as maintenance and other services.

Continental’s Conveying Solutions is one of the world’s leading specialists in transport and off-highway solutions, with customers in key industries such as mining, agriculture, vehicle and civil engineering. In addition to its extensive product portfolio, Conveying Solutions’ goal is to respond to specific customer needs and to provide holistic and efficient solutions for every transport task in the most environmentally friendly way possible – from plant design, production and installation to preventive maintenance and repairs. Conveying Solutions has more than 5,800 employees in 54 locations in 16 countries.

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Continental AG published this content on July 4, 2022 and is solely responsible for the information contained therein. Delivered by publicunedited and unchanged, on 4 July 2022 11:52:09 UTC.

Public now 2022

All news about CONTINENTAL AG

Analyst recommendations on CONTINENTAL AG

Sales 2022 37 932 M
39 455 M
39 455 M
Net income 2022 1 127 M
1 172 M
1 172 M
Net debt 2022 3 738 M
3 888 M
3 888 M
P / E ratio 2022 11.8x
Return 2022 2.94%
Capitalization 13 276 M
13 809 M
13 809 M
EV / Sales 2022 0.45x
EV / Sales 2023 0.40x
Number of employees 192 396
Free Move 54.0%


Duration:

Period:




Continental AG Technical Analysis Diagram |  MarketScreener

Technical analysis trends CONTINENTAL AG

Short-term After half the time Long term
Trends Neutral Lower Lower



Development of the income statement

Sell

buy

Average consensus OVERCOME
Number of analysts 19
Latest closing price € 66.38
Average target price € 87.84
Spread / Average target 32.3%


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