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Munich/ Horten/ Villach (pte031/20.05.2003/14:49) - Infineon http://www.infineon.de has announced plans to take over Norwegian firm SensoNor. The Munich group intends to strengthen its position in the semiconductor segment of the automotive industry. Infineon revealed today that the acquisition would be worth about 48m euros.
SensoNor shareholders are meeting today to review the offer and discuss a potential capital increase. "The takeover underlines our strategy to expand our leading position in the automotive sector and double our market share in this field to 15 per cent," said Reinhard Ploss, head of Infineon's Automotive & Industrial Electronics Group. Located in Villach, Austria, the branch recently achieved a record quarterly turnover of 354m euros.
Infineon is currently Europe's leading producer of semiconductor solutions for automobile electronics. At the same time, Infineon holds the second rank in a world market that is expected to grow by 20 per cent each year. The friendly takeover of SensoNor will give Infineon leadership on the market for pressure sensors. SensoNor has several long term contracts with automobile producers.
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