ZF, the global leader in driveline and chassis technology and ranked among the Top 10 global automotive suppliers has, in a statement issued on July 10
26 Jun 2011 | 1531 Views | By Autocar Pro News Desk
ZF, the global leader in driveline and chassis technology and ranked among the Top 10 global automotive suppliers has, in a statement issued on July 10, confirmed that it is “the preliminary stage of discussing a possible acquisition for American automotive supplier TRW. There can be no assurance that any ...
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ZF, the global leader in driveline and chassis technology and ranked among the Top 10 global automotive suppliers has, in a statement issued on July 10, confirmed that it is “the preliminary stage of discussing a possible acquisition for American automotive supplier TRW. There can be no assurance that any transaction will be agreed.”
Worldwide, the ZF Group has 122 production companies in 26 countries and eight main development locations. In addition, it has 33 service companies as well as 650 service points. In 2013, the Group achieved a sales figure of around 16.8 billion euros (Rs 137,138 crore) with 72,643 employees.
On its part, TRW Automotive Holdings Corpalso confirmed, on its website, that it received a preliminary, non-binding proposal to acquire the company and is evaluating the proposal as well as other strategic alternatives which may enhance stockholder value.
With 2013 sales of $17.4 billion (Rs 104,434 crore), TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the company, through its subsidiaries, operates in 24 countries and employs approximately 65,000 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services.