OSRAM Continental JV up and running
Specialising in the manufacture of LED and laser-based lighting modules, solutions and associated electronics, OSRAM Continental joint venture is up and running. With the successful completion of all negotiations and the issuance of merger control approvals, the joint venture will initially employ 1,500 people at 16 locations the world over. Headquartered in Germany, the joint venture with 50 per cent stake of each partner, is looking at achieving double digits growth rates per annum for the next five years, and is confident of the LED and laser-based solutions market accelerating strongly. The first products to be developed by the joint venture are expected to be ready for series production by 2021. According to Dirk Linzmeier, CEO, OSRAM Continental, the company will offer solutions that will lead to a big change in automotive lighting. The joint venture will utilise increasing digitalisation to produce intelligent lighting functions for vehicles.