Osram and Continental sign joint venture contract
- Joint venture involving around 1,500 employees scheduled to start in the second half of 2018 once the necessary approvals have been obtained
- Both partners have a stake of 50 percent
- Sales target in mid-triple-digit-million-euro range
- CEO from Osram, CFO from Continental
The technology companies Osram and Continental have successfully concluded their negotiations on the Osram Continental GmbH joint venture. 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 and is scheduled to start in the second half of 2018, once all the necessary merger control approvals have been granted. CEO Dirk Linzmeier comes from Osram and CFO Harald Renner from Continental.
“Digitalization is creating new potential applications in automotive lighting and, in turn, tremendous opportunities that we want to leverage with Continental. By joining forces, we will be in an even better position to drive forward innovations by working closely with the automotive industry to integrate lighting, sensor technology and electronics seamlessly 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,” explained Hans-Joachim Schwabe, CEO of Osram’s Specialty Lighting division.
“We want to actively drive forward technological change in the lighting market within the automotive industry and develop even more innovative and intelligent lighting solutions. The joint venture will help us to establish the conditions for this since it combines our expertise in software and electronics with Osram’s automotive lighting expertise. As such, we will be able to offer our customers an unrivaled portfolio in the lighting market,” said Andreas Wolf, head of Continental’s Body & Security business unit.
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 product portfolio will feature semiconductor-based lighting modules such as LED modules for front and rear headlights, laser modules and light control units.
This document contains statements and information pertaining to our future business and financial performance and future developments that may constitute forward-looking statements – i.e. statements about processes that take place in the future, not in the past. These statements pertaining to the future can be identified by expressions such as "anticipate", "expect", "want", "intend", "plan", "believe", "aspire", "estimate", "will”, "predict" or words of similar meaning. Such statements are based on current expectations and certain assumptions of OSRAM’s management. They are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond OSRAM’s control, affect OSRAM’s operations, performance, business strategy and results and could cause the actual results, performance or achievements of OSRAM to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historic trends. These factors include in particular, but are not limited to, the matters described in the chapter “Report on Risks and Opportunities” in the Annual Report of OSRAM Licht Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures they reference.