Osram: to end JV with Continental
(CercleFinance.com) - Osram and Continental have announced their intention to negotiate a separation of their combined activities in a joint venture of smart automotive lighting systems, to regain full control of their respective activities.
This move is Continental and Osram's response to a depressed market environment, which is dogged by the coronavirus crisis and which has not developed as initially anticipated.
This completion of th is "repatriation" remains subject to the approval of the competent bodies at Continental. "Through a future cooperation agreement, the companies plan to stay connected to their automotive industry customers".
Copyright (c) 2020 CercleFinance.com. All rights reserved.