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2001 With the acquisition of Temic GmbH, Nuremberg (photo), Continental ensures itself new chances in the strongly growing vehicle electronics market. The company, which also has production sites in America and Asia, is integrated into the Continental Automotive Systems division.Continental Teves Corporation, Japan, takes over the majority holding in Shin-Ei and Shin Tec, manufactures of brake actuation components and disk brakes. These products complete Continental's full range of brake components in Japan. ContiTech acquires a 51% stake in a Chinese manufacturer of hose assemblies. The joint venture company, operating under the name ContiTech Grand Ocean, produces air-conditioning and power steering hose assemblies in China. This brings the total number of ContiTech's joint ventures in China to four. |