SHANGHAI, China (Oct. 27, 2010)—Continental A.G. and a Chinese company have established a joint venture in Shanghai that will produce automotive brake hoses and braking system components.
Conti said it owns a 51-percent stake in Continental Brake Systems (Shanghai) Co. Ltd., and Huayu Automotive Systems Components holds the remaining interest. The financial aspects of the deal weren't disclosed.
Continental Brake Systems is based in Jiading, China, where it employs 160.
The joint venture has two manufacturing units— Shanghai Automotive Brake Systems Co. Ltd, with about 900 employees, and Continental Automotive Systems Changshu Co. Ltd., which has a staff of 1,000.
The partnership will enhance Conti's Chassis and Safety Division in Asia, the company said.
The venture produces front and rear axle brake hoses as well as all components of automotive braking systems.