Continental Takes Over The Outstanding Shares Of Temic

Last year Continental bought 60 percent of DaimlerChrysler’s microelectronic subsidiary Temic for 398 million Euro. Now DaimlerChrysler pursued the option to sell the outstanding 40 percent to Continental for 215.3 million Euro.

The German group has already renamed the new subsidiary as Conti Temic microelectronic GmbH which is under the leadership of Continental’s board member Dr. Wolfgang Ziebart and is part of the business unit Continental Automotive Systems..