Continental AG has a new development (R&D) center at Bangalore

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Continental AG recently inaugurated its new automotive electronics manufacturing facility and a research and development (R&D) center at Bangalore in the Indian state ofKarnataka. The company has set itself a target of achieving acompounded annual growth rate of 60% in India by 2012 and plans toboost sales in Asia to 25% of its aggregate global sales by 2015.The facility will develop and manufacture products for the threeauto electronic divisions of Continental: chassis and safety,interior and power train. Foreign aftermarket companies likePioneer Electronics Incorporated (TYO:6773) (Tokyo) and SonyCorporation (NYSE: SNE ) (Tokyo) dominate the automotive entertainment segment, especiallyCD, DVD, and MP3 players. However, this is likely to change withmajor Tier I suppliers planning to manufacture original equipmentfitted with audio systems. Global players like Avnet Incorporated(NYSE: AVT ) (Phoenix, Arizona) and Arrow Asia Pac Limited, a subsidiary ofArrow Electronics Incorporated (NYSE: ARW ) (Melville, New York), continue to maintain a significant presencein the Indian market.
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