Electronics Production | November 24, 2006
Continental is focusing on<br>acquisitions in eastern Europe
Germany based automotive maker Continental AG has completed the purchase of Motorola's auto electronics division. The company is now looking for growth in Eastern Europe and Asia.
Continental aims to increase earnings before interest and tax as well as revenue next year following the acquisition of Motorola Inc.'s car-electronics unit. The company has a goal of increasing efficiency by 5% a year and has expanded production in eastern Europe and Asia to meet growing demand. The cost to integrate and reorganize the Motorola division will reach €110 million in the 4Q. Continental is looking at a lot of targets for possible purchases, according to a spokesperson within the company. Availability of companies to buy is the main issue and the company is focusing on purchases in Asia and eastern Europe.