Continental joins forces with Tianjin for auto electronics
By Rong Xiandong (chinadaily.com.cn)
Updated: 2006-09-18 09:35
Germany-based Continental AG, Europe's second-largest auto parts supplier,
recently signed an agreement with the management of North China's Tianjin
Economic and Technological Development Zone on cooperation in auto
electronics.
Continental has completed its global acquisition of auto electronics
operations of the world's leading mobile phone maker Motorola including Motorola
(China) Electronics Co Ltd, and aims to incorporate Motorola (China)
Electronics' assets in Tianjin into the new Continental Automotive Systems
(Tianjin) Co Ltd.
The new company involves an investment of US$90 million and will have another
US$90 million as additional investment after establishment according to
Continental's agreement with the development zone.
......
The full text is available in the September Issue of AutoChina.
(For more biz stories, please visit Industry Updates)
|
