Osram: officially signs joint venture deal with Continental
(CercleFinance.com) - Osram officially on Tuesday signed the landmark joint venture contract with fellow German auto parts maker Continental, which is expected to kick off in the second part of the year.
The joint venture, in which each partner has a 50% stake, will combine Continental's and Osram's assets in lighting, light control and electronics, with a sales target in the mid-triple-digit-million-euro range.
The portfolio will particularly include semiconductor-based lighting products, such as LED modules for front and rear headlights, laser modules and light control units, the companies said.
The venture, involving around 1,500 employees, still needs to obtain the necessary approvals from antitrust authorities.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The joint venture, in which each partner has a 50% stake, will combine Continental's and Osram's assets in lighting, light control and electronics, with a sales target in the mid-triple-digit-million-euro range.
The portfolio will particularly include semiconductor-based lighting products, such as LED modules for front and rear headlights, laser modules and light control units, the companies said.
The venture, involving around 1,500 employees, still needs to obtain the necessary approvals from antitrust authorities.
Copyright (c) 2018 CercleFinance.com. All rights reserved.