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OSRAM Group and Continental Group plan to establish joint venture
On the 6th, the two technology companies of OSRAM Group and Continental Group announced plans for the establishment of joint ventures. The program aims to combine innovative lighting technologies with electronics and software technologies to develop, produce and market intelligent lighting solutions for the automotive industry. SHANGHAI, Nov. 7 /PRNewswire-Asia/ -- Two technology companies from OSRAM and Continental announced plans to form a joint venture on the 6th. The program aims to combine innovative lighting technologies with electronics and software technologies to develop, produce and market intelligent lighting solutions for the automotive industry. This globally operating joint venture will be named Osram Continental GmbH and is headquartered in the Munich area. Hans-Joachim Schwabe (right), CEO of Osram Lighting's Specialty Lighting Business Unit, and Andreas Wolf (left), head of the Continental Group's Body and Safety Business Unit, Osram Group and Continental will each hold a 50% stake in the joint venture. The joint venture is expected to employ approximately 1,500 employees and has 17 locations worldwide, with annual sales reaching hundreds of millions of euros. The joint venture appointed Dirk Linzmeier of the OSRAM Group as CEO and Continental Group's Harald Renner as Chief Financial Officer. The joint venture is scheduled to begin operations in 2018 after a series of processes have been agreed upon by the parties on the relevant legal contracts, approval by their respective supervisory boards, and approval of antitrust. On the 6th, the two technology companies of OSRAM Group and Continental Group announced plans for the establishment of joint ventures. The program aims to combine innovative lighting technologies with electronics and software technologies to develop, produce and market intelligent lighting solutions for the automotive industry. At that time, the OSRAM Group will transfer the automotive solid-state lighting (SSL) business to the joint venture, while Continental will transfer the lighting control business of the body and safety business unit to the joint venture. As a result, the future joint venture Osram Continental will have semiconductor-based lighting modules, advanced electronics, optics and software technologies, combined with sensor technology and innovative light sources to deliver a wide range of end-to-end, dedicated A portfolio of innovative lighting solutions designed for front and rear lights. The purpose of the joint venture is to enable products and solutions that are optimized, coordinated and innovative to be put on the market more quickly through joint development. In the future, the joint venture will operate as an independent company in the market. Dr. Stefan Kampmann, Chief Technology Officer of OSRAM Group, believes that the establishment of the joint venture is a signal that the OSRAM Group will adhere to the digital focus. Continental's expertise in software and electronics will further strengthen our technological leadership in automotive lighting. Therefore, the joint venture will become a future-oriented digital automotive lighting technology company. Helmut Matschi, a member of the Continental Group's executive board, said that the lighting industry in the automotive industry has maintained a high rate of innovation, and the development of software technology has also enhanced the momentum of change. The expertise in traditional lighting still occupies an important position in the minds of our customers, and the importance of the electronics sector to support new lighting functions is increasing. Future joint ventures will continue to integrate these areas and take them to new levels. Technological changes are taking place in the lighting market in the automotive industry. Similar to general lighting, the market is moving toward semiconductor-based lighting solutions. With the increasing number of intelligent lighting functions in the automotive field and the growing range of designs and applications based on new lighting technologies, the importance of semiconductor-based technologies, software and electronics continues to rise. Under this trend, the annual market for semiconductor-based automotive headlamp solutions is growing at double-digit rates. Market research shows that by 2025, more than one of every two new cars in the world will be equipped with semiconductor-based lighting solutions. Intelligent lighting solutions bring greater design flexibility to automakers and help optimize R&D costs. Andreas Wolf, head of the Continental Group's body and safety business unit, thinks so. He added: The global business model of the joint venture Osram Continental will give us the opportunity to work closely together to develop automotive lighting solutions that are precisely tailored to customer needs. The two technology companies, Continental and Osram Group, bring their professional technical knowledge to a joint venture that will create unique and widely used solutions for their customers. Under the digital framework, the automotive lighting field will generate new application forms, which will also bring great opportunities. We hope to grasp these opportunities together with Continental. With our portfolio of lighting and electronic solutions, we can provide cutting-edge products for the automotive industry in the future. Hans-Joachim Schwabe, CEO of Osram Group's Specialty Lighting Division, said. He added: We will work closely with the automotive industry to seamlessly integrate lighting, sensing and electronics into one application to further drive technological innovation. Doing so will help to promote the development of new intelligent lighting functions, such as enabling a combination of lighting and sensor technology in a single module, or for light-based communication between drivers, other road users, and the surrounding environment. About OSRAM Osram is headquartered in Munich, Germany, and is a leading global lighting manufacturer with a history of about 100 years. Its product portfolio covers high-tech applications based on semiconductor technology such as infrared or laser lighting. Products are used in a wide range of applications, from virtual reality, autonomous driving or mobile phones to smart and connected lighting solutions in buildings and cities. In the field of automotive lighting, OSRAM is a global market and technology leader. Through continuing operations (excluding Ledvance), as of the end of FY2016 (September 30), OSRAM has a global total of approximately 24,600 employees, with revenues of nearly 3.8 billion euros in the fiscal year. Osram is listed on the Frankfurt and Munich stock exchanges (ISIN: DE000LED4000; WKN: LED 400; transaction code: OSR).