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Industry: Email Alert RSS FeedConti exec: Siemens VDO purchase pays off fast.(Suppliers)(Continental AG)(Siemens VDO Automotive AG)(Brief article)
Automotive News, January, 2008
Byline: David Barkholz, Robert Sherefkin
Continental AG is ahead of schedule when it comes to identifying potential cost savings from last year's purchase of Siemens VDO Automotive.
By combining the two German suppliers, Continental had expected to find $250 million in savings by 2010. Now, it expects to exceed that figure by 2010, said William Kozyra, CEO of Continental's North American operations. "Our preliminary assessment is that we will overachieve that figure,'' he said in an interview here last week at the Automotive News World Congress.
Kozyra said that Continental is finding overlap in its manager ranks. He declined to talk about specific plans to reduce head count.
The Continental and Siemens VDO hookup creates the world's...
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