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Empresas y finanzas

Continental has no plans for large takeovers in next months: CFO


    BERLIN (Reuters) - German auto parts and tire maker Continental has no plans for further large takeovers in coming months after saying in February it will buy U.S. rubber firm Veyance Technologies.

    "Do not expect the announcement of another larger takeover in the NEXT (NXT.LO)months," the company's finance chief, Wolfgang Schaefer, told Reuters in an interview on Thursday.

    But CONTINENTAL (CON.XE) which further cut net debt and boasts almost 6 billion euros ($8.04 billion) of liquidity, will keep looking for smaller deals in non-automotive segments to curb reliance on volatile car markets, the CFO said.

    Separately, Schaefer said third-quarter business to date shows that the company is well on track to achieve its 34.5 billion-euro 2014 sales goal despite growing currency headwinds.

    The Ukraine crisis is hurting business in Russia but accounts for less than one percent of Continental's group revenue, the CFO said.

    "We do not expect things to recover in the coming months," Schaefer said, noting that first-half car production in Russia plunged 10 percent.

    (Reporting by Andreas Cremer and Jan Schwartz; Editing by Jonathan Gould)