Continental plans 'swift but air' integration of Siemens VDO

摘要

Continental is buying Siemens VDO for €11.4 billion. The purchase will make the supplier the fifth biggest in the industry worldwide and will affect thousands of engineers' jobs over the next year. By pooling the firms' resources in markets such as safety, chassis, powertrain systems and telematics/ infotainment, Continental expects to increase its profits substantially. Last year the two firms had annual sales of around €25 billion -Continental had revenues of around €15 billion, Siemens VDO €11 billion.