Posted 04/04/2018 13: 35: 01CET
MUNICH (GERMANY), 4 Apr (EUROPA PRESS) –
The manufacturer of components for the Continental car has reached an agreement with the technological company Osram for the creation of a ‘joint venture’ that will combine the experience of both firms in lighting, light control and electronics, and will employ 1,500 employees, with a sales target of around 500 million euros.
As reported by Continental, each of the partners of this alliance will have a 50% stake in the new company, which will begin operating in the second half of this year. The CEO, Dirk Linzmeier, will come from Osram, while the financial director, Harald Renner, from Continental.
“We want to actively promote technological change in the lighting market within the automotive industry and develop even more innovative and intelligent lighting solutions, this partnership will help us to establish the conditions for this, since it combines our experience in software and electronics with Osram’s automotive lighting experience “, assured the head of the Continental Bodywork and Security business unit, Andreas Wolf.
The joint venture, which will be based in Germany, will operate worldwide to “guarantee rapid development cycles with customers in their local areas.” Its range of products will include semiconductor-based lighting modules, such as LED modules for front and rear lights, laser modules and light control unit.
“By joining forces, we will be in an even better position to drive innovations, working closely with the automotive industry to seamlessly integrate lighting, sensor technology and electronics into one application,” said the CEO of the company. Lighting division of Osram, Hans-Joachim Schwabe.