Continental to Merge its Hungarian Units into a Single Operation

German automotive supplier Continental AG on November 1 merged its Hungarian units Temic Hungary Kft. and Continental Teves Magyarország Kft. into a single unit called Continental Automotive Hungary Kft., MTI reports.

Continental said that the company merged the units located in Budapest and Veszprem (C Hungary) in order to streamline the company's operations in Hungary.

The merger would have no impact on the organizational structure of either unit nor would result in the layoff of the 3,000 employees working at the units, Continental said.