| Continental and Siemens Automotive join forces |
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| Written by Administrator | |
| Wednesday, 22 August 2007 | |
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The German based Continental tyre company has announced that it is to buy the Siemens VDO Automotive AG from Siemens for €11.4 billion. The deal puts Continental among the top five worldwide in this industry. The deal provides Continental with the opportunity to become a global frontrunner in the automotive supplier sector. It pools skills and experience of both companies in key market segments like safety, chassis, powertrain systems and telematics/infotainment.
The Continental Corporation is a leading automotive supplier of brake systems, chassis components, vehicle electronics, tires and technical elastomers. In 2006, Continental had sales of €14.9 billion. At present, it has a worldwide workforce of around 87,000. |
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