Exactly one year ago, when the special military operation had just begun, Continental representatives announced their decision to “freeze” Russian operations and suspend tire production at the Kaluga plant. The enterprise really stopped, but soon got back to work – problems with logistics chains and the inaccessibility of raw materials were overcome.

Now the Germans are talking about leaving again. Nikolai Setzer, CEO of Continental AG, explained that the reason for this decision was the CBO. The company will be sold in the foreseeable future, including the tire factory in Kaluga. No timeline or potential buyers have yet been announced, but Mr Setzer said the company is “well advanced in the process” of transferring assets.

It seems that the Germans wanted to sit quietly – wait until the Russo-Ukrainian conflict was over and they could safely return to work without pressure from the authorities. But the conflict did not subside, and it is unlikely to do so soon, and therefore the Continental leadership had to make a serious decision. And it was certainly not easy – at least because the Germans invested about 240 million euros in the same Kaluga plant.

By the way, remember that Continental also has another enterprise in Russia – in Chistopol in Tatarstan. They produce tachographs for commercial vehicles and other automotive electronics.

Exactly one year ago, when the special military operation had just begun, Continental representatives announced their decision to “freeze” Russian operations and suspend tire production at the Kaluga plant. The enterprise really stopped, but soon got back to work – problems with logistics chains and the inaccessibility of raw materials were overcome.

Now the Germans are talking about leaving again. Nikolai Setzer, CEO of Continental AG, explained that the reason for this decision was the CBO. The company will be sold in the foreseeable future, including the tire factory in Kaluga. No timeline or potential buyers have yet been announced, but Mr Setzer said the company is “well advanced in the process” of transferring assets.

It seems that the Germans wanted to sit quietly – wait until the Russo-Ukrainian conflict was over and they could safely return to work without pressure from the authorities. But the conflict did not subside, and it is unlikely to do so soon, and therefore the Continental leadership had to make a serious decision. And it was certainly not easy – at least because the Germans invested about 240 million euros in the same Kaluga plant.

By the way, remember that Continental also has another enterprise in Russia – in Chistopol in Tatarstan. They produce tachographs for commercial vehicles and other automotive electronics.