BERLIN -- Continental is working on identifying locations where it can raise production to compensate for the loss of output at its Kaluga plant in Russia, where production has been suspended.
The supplier previously sold goods from the Kaluga plant, which makes rubber, tire, and plastic products, to some neighboring states, as well as serving the domestic market, CEO Nikolai Setzer said on Wednesday.
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It was too soon to say whether the Kaluga plant would close permanently, Setzer said, speaking at a press conference after the company's annual results.
Continental said on Tuesday it had suspended production at the plant in light of the Ukraine crisis and stopped imports and exports from Russia.
Revenue from Russia represents less than 1 percent of global revenue, CFO Katja Duerrfeld added. It does not have any plants in Ukraine.
Continental, based in Hanover, Germany, ranks No. 6 on the Automotive News Europe list of top 100 global suppliers, with 2020 sales to automakers of $29.7 billion.
