Sensors head Continental AG acquisition target list

Continental AG wants to grow its automotive electronics division through acquisition, according to Karl-Thomas Neumann, who heads the firm’s Automotive Systems division. In an interview with Euro am Sonntag, Neumann cited “sensors technology in video, laser or radar” as technologies that interest the company. He added, “We see a major potential in driving aid systems, such as those that help long-distance drivers keep their distance from other cars and stick to their driving lanes.” Continental acquired Motorola’s automotive electronics operations in April.

For the second half of this year, Neumann said he expects sales and earnings in the automotive electronics business to be “as good as in the first-half,” when the unit posted increases of 7% in sales and 14% in earnings before interests and taxes.

“The automotive industry in Europe and in Asia, in particular, is doing very well. The trends here are still very positive,” Neumann said.