Continental further expands the scale of its joint venture in Japan
Continental, an international auto parts supplier, has reached an agreement to expand its market influence and series of products through its joint venture in Japan, Continental Automotive Corporation, and additional safety products such as integrated airbag control units and sensors. Promoting the development of local professional capabilities in Asia is an important strategic objective of the Continental Group's Chassis and Safety Systems Department.
December 17, 2009 Japan's Yokohama International Automotive Components Supplier Continental Group has reached an agreement to hold its joint venture between Continental Automotive Corporation (CAC), a joint venture between Nisshinbo Holdings Inc. and Nisshinbo Holdings Inc. Shares increased from 51% to 60% in 2010. The Continental Group's Chassis and Safety Systems Division can thus integrate its airbag system and sensor business to consolidate its strategic position as a supplier of chassis and safety systems in Asia, particularly in Japan. "Through this step, Continental Group has significantly strengthened its cooperation with Nisshinbo," said Dr. Ralf Cramer, member of the Continental Group Executive Board and President of the Chassis and Safety Systems Division. "The objective of the Chassis and Safety Systems Division is to achieve sales in Asia from a full range of products, including hydraulic and electronic brake systems, passive safety and driver assistance systems, and sensors and chassis components from high-end to economical solutions. 25%.The joint venture aims to provide our Japanese and Asian customers with a wide range of passive and active safety products from individual components to fully integrated system solutions, ContiGuard®."
Continental Automotive Corporation (CAC) was established by a joint venture between Continental Group and Nisshinbo Industries, Inc. in 2002 and is headquartered in Yokohama City, Japan. It currently employs approximately 1,700 employees and is common in Japan, Korea, and China. 9 manufacturing plants, R&D centers, test tracks, and offices. The company provides Japanese and Asian customers with numerous safety and chassis components and systems from hydraulic and electronic brake system chassis and surrounding sensors. Based on the existing successful organizations, the expanded joint venture will have a broader scope of business, including providing products and systems from Changchun, China and Qingyuan County, Korea.
“The Continental Group is convinced that our success and sustainable growth in Asia needs to be enhanced by strengthening our R&D, sales and production capabilities in Asian countries,†said Dietmar Siemssen, president and CEO of Continental Automotive Corporation (CAC). “In this regard, our decision to improve the basic capabilities of our products and Continental Group emphasizes the strategic importance of our commitment to our customers, which is to support their Asian and global plans through comprehensive security products and development capabilities. In this regard, our joint venture with Nisshinbo plays a very important role. For this reason, Continental plans to increase its share to 60% in 2010 through this agreement."
Nisshinbo Holding Co., Ltd. has six companies, of which Nisshinbo Mechatronics Inc. is dedicated to the development, manufacture, processing, sales, import, and export of specialized industrial machines and other machines and components. Nisshinbo Electric Machinery Co., Ltd. has become a partner of the Continental Group in Japan in the 1980s and has benefited from the success of the latter.
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