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TEDA and Continental Automotive System Ink a Deal on Cooperation
enorth.com.cn   2007-09-13 16:23

 

TEDA and Germany's Continental Automotive System Corporation sign a commercial cooperation agreement at TEDA Investment Services Center. Director Li Yong of TEDA Administration Committee and President Asia Kunkel of Continental Automotive System Corporation jointly sign the agreement.

The Automotive Systems Division of Continental AG covers the full range of systems and specializes in the development of innovative technologies for vehicle safety applications, comfort and powertrain as well as in the networking of active and passive driving safety systems. As one of the Fortune 500 companies, this world respected auto spare parts manufacturer generates annual sales revenue of EUR 12.6 billion, and its auto spare parts business unit accounts for 50% of its total revenue. Its product lineup of auto spare parts features braking system, auto electronic system, chassis, etc. The company's customer portfolio includes Toyota, Benz, BMW and related markets. The company's Tianjin plant is part of its transactions involving the acquisition of Motorola’s global auto electronics business unit. Continental AG will invest USD 180 million in an independent auto electronics spare parts plant in TEDA.


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