Continental has announced that the group has acquired the remaining 50% of the British joint venture Zytek Automotive and achieved full control.
Continental previously held half of Zytek Automotive's shares and the group completed the acquisition of the remaining equity of Zytek Automotive on February 3, 2014. Both companies did not announce the price of the transaction. In the future, Zytek Automotive will be incorporated into Continental's Engineering Services Services (CES).
Bernd Neitzel, general manager of CES, said: “This acquisition enables us to meet the growing demand for engineering services from our customers. Whether it is from vehicle manufacturers or component suppliers, we have seen specific designs for customers and components for minority vehicles. (Increased demand for electronic brakes, chassis, and powertrains.)
Zytek Automotive employs approximately 150 people at its headquarters in Fradley, UK. Its customers include well-known European, American and Japanese automakers. Its main business focuses on traditional, electrical and hybrid systems for passenger cars and commercial vehicles .
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