Continental Automotive Systems Expands in Asia

Continental Automotive Systems is opening its new headquarters in Shanghai
China today, and has announced plans to build a new technology centre in Yokohama, Japan creating 250 new engineer positions.

By the year 2010, the Automotive supplier intends to generate at least 50 per cent of its new sales through agreements with non-European automobile manufacturers. It wants to double sales in Asia and is therefore intensifying its presence to strengthen its
position in this growth market.

“Presently, Continental Automotive Systems generates 500 million Euro in
sales annually in the Asian region with all well-known Asian automobile
manufacturers. By 2010, we want to double this figure to a billion
euros,” is how Jay Kunkel, president of the Asia region at Continental
Automotive Systems, describes the strategic growth target.

In Japan, Continental Automotive Systems is present with Continental
Teves Corporation (CTC), a joint venture with the supplier Nisshinbo, and with Continental Automotive Systems Japan, which was established in 2005.
The focus is on electronic brake systems as well as caliper and booster
production. Continental Teves Corporation Korea is also under the
umbrella of CTC Japan. cma