Connect with us

Conti Buying Motorola Car Business for $1 Billion Cash

(Akron/Tire Review) Continental AG will acquire Motorola Inc.’s automotive electronics business for approximately $1 billion in cash, it was announced this morning.


The deal includes Motorola’s controls, sensor, interior electronics and telematics businesses, which will be integrated into Continental’s Automotive Systems Division.


Continental said it expects the deal to be closed by mid-2006.

The deal will effectively double that division’s annual sales and adds vehicle telematics to Continental’s product line-up.

"This strategic move will further strengthen our position as a safety and systems supplier to the automotive industry and will give us a real push forward in automotive electronics," said Continental’s Executive Board Chairman Manfred Wennemer.

"The integration of Motorola’s automotive unit will enhance Continental’s ability to offer our customers long-term technology solutions in the areas of telematics, safety electronics, powertrain as well as interior and sensor technologies," said Karl-Thomas Neumann, president of Continental’s Automotive Systems Division. "The addition of telematics allows Continental Automotive Systems to take active/passive safety to the next level of functionality and performance.”


Click to comment




TPMS Matters Even More in an Electrified Vehicle

Credit Score Business Credit Score Business

Business Operations

What Your Credit Score Can do to Your Business

Yokohama-Port-Tires-Drive-1400 Yokohama-Port-Tires-Drive-1400

Commercial Tires

Port Tire Demand Grows as Shipping Industry Pressure Mounts

Bridgestone-Adds-Three-Products-Firestone-Classics-Long-Haul-Tire-Line-1400 Bridgestone-Adds-Three-Products-Firestone-Classics-Long-Haul-Tire-Line-1400

Commercial Tires

Bridgestone Adds Three Products to Firestone Classics Long- Haul Tire Line

Tire Review Magazine