March 2, 2017 / 9:52 AM / 2 years ago

Continental CEO eyes new business from Opel-Peugeot deal

Elmar Degenhart, CEO of German tyre company Continental, poses for the media before the annual news conference in Hanover, Germany March 2, 2017. REUTERS/Fabian Bimmer

BERLIN (Reuters) - Continental (CONG.DE) expects a possible tie-up between PSA Peugeot Citroen (PEUP.PA) and General Motors’ (GM.N) Opel division would boost its business, its chief executive said.

“Opportunities emerge because platforms will be standardized and higher and more interesting volumes will arise” for suppliers, CEO Elmar Degenhart said during a conference call after the automotive supplier published results on Thursday.

Separately, Continental said it planned to raise prices for summer and winter tires to help offset 500 million euros ($526.55 million) of expected headwinds from rising raw material prices this year.

Degenhart also said the company wanted to keep growing through acquisitions and had many ideas on M&A, but declined further comment.

Reporting by Andreas Cremer and Jan Schwartz; Editing by Maria Sheahan

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