Due to difficult market conditions, tech firm Continental says it will cease its business in rollers and sleeves for industrial applications, including for the printing industry, in Germany, by the end of the year. The reason for this decision by Continental’s ContiTech group sector is a market environment that has remained difficult for a number of years due to high competitive and cost pressure. A cost-cutting program initiated in 2021 did not bring the hoped-for turnaround in the product segment.
Around 20 employees in Waltershausen, Thuringia, will be affected by the production stop. Just under 1,000 people in total work for Continental in Waltershausen.
The ongoing strained economic situation in the sector prompted management to take this decision. Investigations into alternative approaches failed to produce practicable results.
The company says it is seeking socially compatible solutions for them and has begun talks with employee representatives. “We regret this economically necessary step,” says Andreas Bakenhus, head of the Continental Elastomer Coatings business segment in the EMEA region (Europe, Middle East and Africa). “We would like to thank our colleagues who have perseveringly dedicated themselves to the production of rollers and sleeves. Unfortunately, despite our best efforts, the headwinds from the difficult market environment were too strong.”
Only rollers and sleeves for printing and other industrial applications are affected by the changes to the product portfolio. Other products for the printing industry, such as offset printing blankets, will remain part of Continental’s portfolio.
“Despite the obvious challenges, we believe in the future of the printing industry,” said Bakenhus. “That’s why we’re adapting our portfolio to supply our customers with products that are both high-quality and cost-effective,” he added.