Continental to Acquire Magna Electronic Radar Engineering Business

German auto parts supplier Continental Group has announced that the company is considering the acquisition of Magna Electronics ' radar engineering business in Ottobrunn, Germany. The company said that the transaction is expected to be concluded on July 1, 2011, which will play an important role in enhancing the competitiveness of the Continental Group's product portfolio and maintaining the company's leading position in the radar sensing system business.

Under the acquisition agreement, the radar engineering business of Magna Electronics in Ottobrunn will be controlled by the Continental Group in the future. At the same time, the 11 engineers under this business will also be employed by the Continental Group.

Dr. Andreas Brand, business leader of ADAS (Advanced Driver Adaptive System), a passive safety and advanced driving suitability system of the Continental Group's Chassis and Safety Systems Division, said: “In the field of automotive driver assistance systems, Continental is a leading global supplier. The consolidation of the business of Nasdatronics has consolidated and strengthened our market position in the radar field."

Magna Powertrain and Magna Electronics president Joachim Hirsch pointed out: "The sale of radar engineering business will make Magna Electronics free more resources, And can focus on developing camera-based automotive safety and security systems."

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