• Further significant milestone of the growth in Singapore
• Total capital investment of S$29.7 million
Singapore, July 26, 2013. Continental, a leading international automotive supplier, will invest in a new extension building to expand their R&D capabilities in Singapore. With a total capital investment of S$29.7 million (€17.5 million), the extension aims to meet the demand of growing engineering requirements in view of the worldwide business expansion and the growth in Asia.
Continental is currently one of the best positioned automotive suppliers and industry partners. In Asia the company operates 17 R&D centers. Already in operation as a Continental subsidiary since 2007, Continental Automotive Singapore Pte Ltd is one of the company’s three largest Asian R&D centers. “We want to grow stronger in Asia and can report that Continental has generated sales of some 6 billion Euros in Asia in 2012. It is our strategic goal to increase the share of corporate sales on the Asian market from 18% at present to more than 30% over time. The extension of our R&D center in Singapore strongly supports Continental’s growth strategy in Asia,” highlighted Lo Kien Foh, Managing Director of Continental Automotive Singapore Ptd. Ltd.
“We are pleased that Continental continues to expand its R&D capabilities in Singapore to drive innovation in in-car information management systems. Continental’s expansion is testament to our talented science and engineering workforce paired with strong intellectual property protection laws, making Singapore an ideal hub for the design and development of automotive electronics,” added Lim Kok Kiang, Executive Director, Transport Engineering of the Singapore Economic Development Board.
Continental has set itself an ambitious target: to complete the project in slightly more than one year. The new extension building will accommodate around 450 employees and provide a total floor space of 5,000 square meters.
The number of Continental’s employees in Singapore has grown from about 650 in July 2012 to more than 780 today. Great progress has been evident with the significant increase in workforce just over a span of one year. “With this aggressive extension plan, we commit to use local knowledge, in collaboration with our international teams, to serve customers globally and aim to offer innovative, intelligent and sustainable solutions. “We will continue to grow in manpower and technical competence to more than 1300 employees within the next few years” said Mr. Lo.
Continental Automotive Singapore’s new extension building will house R&D and administrative offices from four Business Units of the Interior Division, namely Instrumentation & Driver HMI, Infotainment and Connectivity, Body and Security and Commercial Vehicles and Aftermarket, as well as ContiTech and the Tires Division.
With sales of €32.7 billion in 2012, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires, and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has approximately 173,000 employees in 46 countries.
The Automotive Group with its three divisions Chassis & Safety (sales of approximately €7.0 billion in 2012, 34,500 employees), Powertrain (sales of approximately €6.1 billion in 2012, 31,000 employees) and Interior (sales of approximately €6.4 billion in 2012, 33,000 employees) achieved sales of approximately €19.5 billion in 2012. The Automotive Group is present in more than 170 locations worldwide. As a partner of the automotive and commercial vehicle industry, it develops and produces innovative products and systems for a modern automotive future in which cars provide individual mobility and driving pleasure consistent with driving safety, environmental responsibility, and cost efficiency.
The Chassis & Safety division develops and produces electronic and hydraulic brake and chassis control systems, sensors, driver assistance systems, air bag electronics and sensors, washer systems, and electronic air suspension systems. Its core competence is the integration of active and passive driving safety into ContiGuard®. The Powertrain division integrates innovative and efficient system solutions for vehicle powertrains. The comprehensive range of products includes gasoline and diesel injection systems, engine management and transmission control, including sensors and actuators, as well as fuel supply systems and components and systems for hybrid and electric drives. Information management is at the very heart of the Interior division, which provides a range of products that includes instrument clusters and multifunctional displays, control units, electronic car-entry systems, tire-monitoring systems, radios, multimedia and navigation systems, climate control systems, telematics solutions, and cockpit modules and systems.
Contact for Journalists
Sim Toon Cheng
Head of Communications
Continental Automotive Singapore Pte Ltd
80 Boon Keng Road
339780 Singapore
Phone/Fax: +65 6580 0662
Fax: +65 6634 1623
E-mail: sim.toon.cheng@continental-corporation.com
Nina Mueschenborn
Communications
Continental Automotive Singapore Pte Ltd
80 Boon Keng Road
339780 Singapore
Phone/Fax: +65 6580 0841
Fax: +65 6634 1623
E-mail: nina.mueschenborn@continental-corporation.com