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Plant investment still crucial to longevity

Business First of Buffalo - November 10, 2006

by Thomas Hartley

Business First

The imminent closing of Continental Automotive Systems' plant in Elma accents the link between production costs and a plant's future, says a Canisius College economist.

A company that doesn't invest in a facility sends a signal that it does not have a long-term future in mind for it, says George Palumbo, chairman of the Canisius department of economics and finance.

Palumbo said he was not commenting specifically about the Elma plant, but that speaking in general terms, a record of investments in a plant is vital to heightened productivity, which is a key to keeping costs in line.

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Ward's Auto World,

Continental Buys Motorola Auto Electronics

Continental Chairman Manfred Wennemer emphasizes there are no redundancies that will result in layoffs or consolidation.

May 6th, 2006

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Continental AG to phase out 380 Elma jobs

Nov 3rd, 2006

Continental Buys Motorola Auto Electronics

Ward's Auto World, May 1, 2006

Byline: Drew Winter

German supplier Continental AG is acquiring the automotive electronics business of Motorola Inc. for $1 billion.

The sale includes Motorola's controls, sensor, interior electronics and telematics units. The operations will be plugged into Continental's Automotive Systems Div., which specializes in active and passive safety devices such as electronic stability control.

Continental Chairman Manfred Wennemer emphasizes the acquisition is aimed strictly at growing the company's business and product portfolio and says there are no redundancies that will result in layoffs or consolidation.

Wennemer acknowledges a few sales positions overlap but says there will be "hardly any" job reductions.

The acquisition will increase global sales by more than 20% but will immediately double Continental's North American sales.

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