Continental AG to Build New Test Track in Hungary

Chassis & Safety Division is investing in the development of electronic braking systems and aiming to recruit 100 new specialists by 2011

Frankfurt am Main/Veszprém, Hungary, February 14, 2008 -- The international automotive supplier Continental AG is expanding the capacity of its global engineering network for the development of electronic braking and stability systems. To this end the Chassis & Safety Division is making further investments at its Veszprém site in Hungary. By 2011, the division will be creating around 100 new jobs for skilled workers and engineers at the location, as well as building new proving grounds for ABS and ESC development. The provisional contract for the proving grounds at a location near Veszprém was signed on February, 7. The total investment in the expansion of engineering activities at the site runs to over EUR 10 million.

The new proving grounds for ABS and ESC will comprise high-adhesion, low-adhesion and rough-road test facilities, as well as a specially designed vehicle dynamics facility for applications testing. Building work on the proving grounds is slated for completion by the beginning of 2009.

"We are strengthening our worldwide engineering activities in countries like Hungary not only in order to stay close to our customers in geographical terms, but also to bring our technologies to market in a particularly cost-efficient way and with the best engineers," said Dr. Ralf Cramer, President of the Chassis & Safety Division. "Our activities in these countries are closely coordinated with headquarters in Frankfurt and with our other research and engineering locations around the world," Dr. Cramer added. "Globally integrated engineering means that we can share developments at every site with all Continental engineers, wherever they may be. We are creating efficient structures within which customer quality requirements and specifications can be taken into account at a very early stage in regional markets too."

At Continental's Veszprém site, which opened in 1993, a workforce of around 1,000 manufactures wheelspeed sensors and sensor clusters as components for ABS anti-lock brakes and ESC electronic stability control. The engineering center at the site was inaugurated in 2001 and currently employs around 120 engineers, mainly working on software development.

As one of the three largest employers in the region, over the next four years Continental will be growing its Veszprém site into a state-of-the-art engineeringcenter and investing in the creation of additional jobs for engineers, as well as in the necessary infrastructure. Through this expansion the international automotive supplier, which also collaborates with the local university in Veszprém, is contributing to the dynamic growth of Hungary as an emerging high-tech economy.

With annual sales of more than €25 billion (based on 2006 figures), the Continental Corporation is one of the top five automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. Today, the corporation employs approximately 150,000 people at nearly 200 locations in 36 countries.

As a worldwide leading technology and systems partner to the automotive industry, the Chassis & Safety Division of Continental AG integrates extensive know-how and leading-edge quality in the fields of active and passive driving safety, safety and chassis sensorics, and chassis components. The Division achieves sales of more then € 5 billion with a workforce of more than 27,000 (2006). Chassis & Safety develops and produces electronic and hydraulic brake and chassis control systems, sensors, driver assistance systems, air bag control systems, washers and occupant classification systems as well as electronic air suspension systems.

Source: Continental AG

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