HANOVER, Germany (Aug. 20, 2003) — Continental A.G. has been reinstated to the German stock market's DAX index of the country's 30 largest companies after a seven-year hiatus.
The tire maker, which grew considerably in the past years via acquisitions, is the first company in the 15-year history of the DAX index to be reinstated.
“We are very pleased to resume our position in DAX,” said Conti Chairman Manfred Wennemer in a prepared statement. “It will help draw more attention to our business success throughout the international financial commu-nity than at present.”
Conti, a founding member of the DAX, will rejoin the index Sept. 22, according to Frankfurt, Germany-based Deutsche BÃ¶rse A.G., the stock market proprietor.
Conti's share price of late has outperformed the DAX, Conti said, rising more than 40 percent in value this year, vs. the DAX average of 20 percent.