Continental AG raises 2015 sales target on Veyance integration
BERLIN, March 5 (Reuters) - Germany's Continental raised its sales guidance for 2015 to take the integration of U.S.-based Veyance Technologies into account, the company said on Thursday.
The auto parts and tyre maker expects sales to grow almost 9 percent this year to about 37.5 billion euros ($41.42 billion), compared with a January target of more than 36 billion euros.
Sales will include at least 1.3 billion euros from consolidating Veyance, the acquisition of which was closed in January.
Positive exchange rate effects could add an additional 1 billion euros to sales, which the Hanover-based company said may increase to more than 50 billion euros by 2020 on carmakers' growing demand for electronic components and safety technology. ($1 = 0.9055 euros) (Reporting by Andreas Cremer; Editing by Ludwig Burger)
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