Continental Automotive Systems is in discussions to acquire a stake in Siemens VDO Automotive while parent Siemens AG has signaled plans for a potential initial public offering of Siemens VDO.
“They (Siemens) are leaders in fuel management system technologies,” says Bill Kozyra, president and CEO of Continental in North America.
“Like us, they are also strong in transmission control technologies and body electronics. So there's immediate synergy opportunities from a technological standpoint.”
While many auto industry players are shedding jobs, Continental is looking to add 600 engineers globally, part of a plan to hire 1,300 professionals worldwide in 2007.
A leader in advanced automotive safety systems, Continental has been growing rapidly as safety is becoming a top priority, Kozyra says.
Continental is experiencing “this whole explosion in auto electronics coupled with the advances in active safety technologies that help prevent a crash from occurring,” Kozyra says.
