Osram and Continental sign joint venture agreement
Osram and Continental have finalized negotiations on their joint venture, which is expected to go into operation.........
in the second half of 2018 once all necessary merger control approvals have been obtained.
The joint venture aims to combine the expertise of the two companies in the lighting, light control and electronics sectors to develop, produce and market intelligent lighting solutions for the automotive industry.
The global joint venture is to operate under the name Osram Continental GmbH and have its headquarters in the Munich region/Germany. The US operation will be based in Hendersonville / TN.
Osram and Continental will each hold 50% of the joint venture. With around 1,500 employees and 17 locations around the world, annual sales in the mid three-digit million euro range are targeted.