Continental Teves Corporation (CTC, a division of Continental Teves, Germany) has acquired a key supplier and leading Japanese manufacturer of ABS and wheel bearing speed sensors.
CTC, formed in 2000, is a joint venture division of Continental AG (Germany) and ABS brake specialist Nisshinbo Industries (Japan). The venture extended Nisshinbo's ABS braking system technical reach and allowed Continental better access to Nisshinbo's traditional customer base of Japanese and Korean automakers.
By 2004/2005, Continental Teves Corporation has stated it intends to be a fully integrated brake and chassis supplier to Japanese and Korean automakers.
Toward that goal, CTC has now acquired its regional supplier of bearing/wheel speed sensors, a division of Nagano Japan Radio Company, Ltd. (Japan). With 1,350 employees and plants in Japan and China, Nagano has been supplying wheel speed sensors exclusively for Continental Teves since 1997. The Japanese and Chinese manufacturing operations were acquired in two separate transactions.
In 2002, Nagano produced almost 13 million wheel speed sensors, worth almost USD $65 million, for CTC. Currently, most of the production is being done in China.
"These acquisitions represent a further landmark in our long-term strategy for the Asia region," said Dr. Wolfgang Ziebart, head of Continental Teves Corporation.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.