Osram and Continental sign joint venture contract
MUNICH and WILMINGTON, MA – Technology companies Osram and Continental have successfully completed negotiations on their joint venture, which is expected to begin operations in the second half of calendar year 2018. The joint venture, in which each of the partners has a 50 percent stake, aims to combine Continental’s and Osram’s respective expertise in lighting, light control and electronics. Leading the joint venture are CEO Dirk Linzmeier from Osram and CFO Harald Renner from Continental.
“Digitalization is creating new possibilities in automotive lighting applications and, in turn, tremendous opportunities that we want to leverage with Continental,” said Hans-Joachim Schwabe, CEO of Osram’s Specialty Lighting division. “By joining forces, we will be in an even better position to drive innovations by working closely with the automotive industry, seamlessly integrating lighting, sensor technology and electronics in a single application. This will allow us to advance new intelligent light functions, such as the combination of lighting and sensor technology in a module or light-based communication between the driver, other road users and the vehicle’s surroundings.”
Andreas Wolf, head of Continental’s Body & Security business unit, added, “The joint venture puts us in a unique position to drive technological change in the automotive lighting market and to develop intelligent lighting solutions by combining our expertise in software and electronics with Osram’s automotive lighting expertise. The innovations Osram and Continental bring to this joint venture will allow us to offer our customers an unrivaled and unprecedented portfolio in the lighting market.”
The joint venture will be based within the region of Munich, but will operate globally to ensure rapid development cycles with customers in their local areas. The U.S. operations of Osram Continental will be based in Hendersonville, Tennessee. The product portfolio will feature semiconductor-based lighting modules such as LED modules for front and rear headlights, laser modules and light control units.
Read more about the deal here.
ABOUT OSRAM
OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smart phones to smart and connected lighting solutions in buildings and cities. OSRAM uses the endless possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better. OSRAM has approximately 26,400 employees worldwide as of end of fiscal 2017 (September 30) and generated revenue of more than €4.1 billion. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.
ABOUT CONTINENTAL
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2017, Continental generated sales of €44 billion and currently employs more than 238,000 people in 61 countries.
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