Automotive Supplier Continental Looking To Boost Business On PSA’s Opel Purchase
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Automotive supplier Continental is looking at PSA Group’s acquisition of GM’s Opel-Vauxhall as an opportunity to grow its business.
“Opportunities emerge because platforms will be standardized and higher and more interesting volumes will arise” for suppliers, CEO Elmar Degenhart said during a conference call after announcing the company’s financial results last week.
Yesterday, General Motors and French automaker PSA Group confirmed the sale of GM’s European Opel-Vauxhall division and associated vehicle financing operations to PSA in a deal worth €2.2 billion in cash €0.65 billion in PSA stock warrants.
Headquartered in Hanover, Germany, Continental AG is a leading German automotive manufacturing company that specliazes in tires, brake systems, interior electronics, automotive safety, powertrain and chassis components.
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