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German automotive company Continental AG on November 1 merged Hungarian units Temic Hungary Kft and Continental Teves Magyarország Kft into a single unit called Continental Automotive Hungary Kft, the company announced on Wednesday.
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.