ZF completes acquisition of TRW: top three supplier 18 May 2015
Driveline and chassis technology specialist ZF Friedrichshafen has now completed on its acquisition of TRW Automotive Holdings.
TRW will be incorporated into ZF as a new division called Active and Passive Safety Technology under the ZF brand name.
ZF chief exec Stefan Sommer,says the merged operation forges a "worldwide leading systems supplier in the automotive sector".
He also says the new organisation is now a top three global automotive supplier, with pro forma sales exceeding €30 billion and more than 130,000 employees.
"Together with TRW, ZF will be even better positioned to benefit from major trends in the industry by building on the strengths of both companies, remaining focused on current and future business needs, and managing the transition with an emphasis on creating value," he states.
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