Osram and Continental plan to return joint venture business to the parent companies

 

  • Osram and Continental plan to remain connected as partners for the automotive industry
  • Orders already placed and commitments made will be fulfilled
  •  Negotiations on returning the business should be completed by the end of the year

Osram and Continental are planning to realign their joint venture business in smart automotive lighting systems Osram Continental for the future. In the coming months, the two parent companies will negotiate on separating of the business and returning it to the respective companies. This move is Osram and Continental’s response to the gloomy market environment, which is being further impacted by the corona crisis and which has not developed as originally anticipated. The decision on this potential return is subject to approval by the relevant bodies at Continental. The companies plan to remain committed to customers in the automotive industry in a future collaborative setup. The industrial aspects that led to the establishment of the joint venture are still valid. New lighting solutions will continue to need close interplay between electronics, software functionality and modern LED light sources. This was confirmed by the scope of the new business acquired over the past two years. In order to bring the resulting innovations and projects into series production on time, the two companies will jointly ensure the continuity of project implementation and the necessary competences for their automotive customers.

Existing customer relationships will remain unaffected. Orders placed and commitments made will of course be fulfilled. The Osram Continental joint venture employs around 1,500 people at 14 locations worldwide. The joint venture was established in 2018 to promote smart lighting systems for automobiles.

Disclaimer

This document contains forward-looking statements and information – that is, statements about future, not past, events. These forward-looking statements can be identified by formulations such as "expect", "want", "anticipate", "intend", "plan", "believe", "aim", "estimate", "will", "predict" or similar terms. Such statements are based on current expectations and certain assumptions of OSRAM management. They are therefore subject to a number of risks and uncertainties. A variety of factors, many of which are beyond OSRAM’s control, affect OSRAM’s business activities, success, business strategy and results. These factors can cause the actual results, successes and performance of OSRAM to be materially different from any future results, successes or performance expressed or implied by such forward-looking statements or from those anticipated as a result of past trends. These factors include, but are not limited to, matters discussed in the Risk and Opportunity Report of the Annual Report of the OSRAM Lighting Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the forwardlooking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM does not assume any obligation and does not intend to update these forwardlooking statements beyond legal requirements or to correct them in the event of developments other than those expected. Due to rounding, individual figures in this and other reports may not add up precisely to the totals provided and percentages presented may not precisely reflect the absolute figures to which they relate.

Über die OSRAM GmbH

OSRAM, headquartered in Munich, is a leading global high-tech company with a history of over 110 years. The predominantly semiconductor-based products enable a wide range of applications from virtual reality to autonomous driving and from smartphones to networked intelligent lighting solutions in buildings and cities. OSRAM uses the infinite possibilities of light to improve the lives of people and societies. With innovations from OSRAM we will not only see better in the future, but also communicate better, as well as move around, work and live better. At the end of the 2019 fiscal year (to September 30) OSRAM employed around 23,500 people worldwide and in this fiscal year achieved sales of around 3.5 billion euros from continuing operations. The company is listed on the stock exchanges in Frankfurt am Main and Munich under WKN: LED 400 (stock exchange code: OSR). Further information can be found on the Internet at www.osram.de.

Firmenkontakt und Herausgeber der Meldung:

OSRAM GmbH
Marcel-Breuer-Str. 6
80807 München
Telefon: +49 (89) 6213-0
Telefax: +49 (89) 6213-2020
http://www.osram.de

Ansprechpartner:
Kathrin Kienle
External Communications AM MC
Telefon: +49 (89) 6213-2754
E-Mail: k.kienle-ext@osram.com
Jens Hack
Pressesprecher
Telefon: +49 (89) 6213-2129
E-Mail: j.hack@osram.com
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