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Regensburg / Hannover (APA / dpa) – The German tire manufacturer and automotive supplier Continental is taking over a specialist in vehicle antenna production. The company is taking into account the growing trend towards networking cars.
The purchase agreement of Kathrein Automotive GmbH, a subsidiary of Kathrein SE, has been signed, Continental announced Monday. Silence was agreed on the purchase price.
The company is expected to be part of Continental in the first quarter of 2019 – after the antitrust investigation, it was announced. Kathrein Automotive employs more than 1,000 people in Brazil, China, Germany, Mexico, Portugal and the United States.
"No antenna without network," said Helmut Matschi, a member of Conti 's board of directors. Powerful and smart antennas are a "key technology". Today, vehicles are already equipped with numerous antennas, from remote keys to navigation systems to wireless communications. During networking and in the face of new technologies such as the 5G fast mobile network, demand will continue to increase.
The industry is moving steeply towards electronic mobility and digitization. Networking is also considered a prerequisite for automated driving. CEO Elmar Degenhart recently announced that the group wants to strengthen its business beyond the automotive sector. Special attention is paid to software and other interesting technologies. At the end of August, the Hanover DAX group reduced its activity forecast for 2018 for the second time in a few months.
~ ISIN DE0005439004 WEB http://www.conti-online.com ~ APA301 2018-10-29 / 14: 21
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