Continental CEO says company currently has no need for state aid

Reuters

Published Apr 01, 2020 • < 1 minute read

FRANKFURT — Continental sees no immediate need for the auto supplier to apply for state aid, but Chief Executive Elmar Degenhart said he is concerned about companies lower down the supply chain.

“We are much more concerned about our own suppliers than about ourselves,” Degenhart said in a call on Wednesday to discuss why the company scrapped its full-year outlook.

Given the uncertainty about how long the coronavirus will curb production and demand, it is impossible to rule out indefinitely that Continental can survive without state aid, Degenhart said. (Reporting by Edward Taylor; editing by Thomas Seythal)

You must be logged in to join the discussion or read more comments.

Create an Account

Join the Conversation

Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.