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The joint venture of OSRAM Continental GmbH, created by the two technology companies Continental and Osram, has begun its work. After the completion of all the negotiations and the issuance of approvals of acquisitions, the new company was launched as planned in the second half of 2018.
OSRAM Continental will hire from all over the world. firstly 1,500 people in 16 sites around the world.
In Romania, OSRAM Continental will operate in Iasi. The team will work here with teams from different countries.
The seat is in Munich (Germany). The project is to move the headquarters to Garching (Germany). The joint venture aims to generate annual sales in the mid-range triple digit in millions of euros. Continental and Osram each hold a 50% interest in the joint venture, which is fully consolidated in the case of Osram.
OSRAM Continental forecasts annual growth rates of up to two digits for the next five years. This is based on a strong market development for LED lighting modules and solutions as well as associated laser and electronic lighting systems. The first products developed by the company will be prepared for serial production by 2021.
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" By launching this joint venture, we are confident that the smart vehicle lighting market will continue to grow and be viable.In addition, with our team of executives and experts from both companies, we will accelerate the speed of innovation, as well as efficiency and integration.I look forward to working with our new colleagues to develop fascinating products, "said Harald Renner, Chief Financial Officer and Continental OSRAM. GmbH
The market for vehicle lighting for the automotive industry is currently in a period of transition, is moving towards solid-state lighting technology, which As software and electronics become more and more important and influential, Continental and Osram combine their strengths in each of these areas and develop modules. the latest-generation phase and solutions for interior lighting for car manufacturers
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