The EU Commission has authorized the acquisition of Mannesmann Sachs by ZF Friedrichshafen AG.
Sachs will continue as a joint stock company owned by ZF Friedrichshafen AG under the name ZF Sachs AG.
ZF plans to take over the four Sachs business units: transmission, chassis, rubber-metal (Boge), and commercial sales. The complementary product lines offered by the two companies enhance each other and reinforce ZF expertise in the field of driveline and chassis technology.
The acquisition makes ZF the third-largest automotive industry supplier in Germany and the 15th largest worldwide, based on annual automotive sales. The move also gives the ZF Group, a leader in driveline and chassis technology, a total workforce of 55,000 employees at 117 locations in 22 countries worldwide. Combined revenues in 2000 for both companies totaled EUR 8.6 billion (USD 7.5 billion).
“As the biggest acquisition in ZF history, this will significantly enhance our company’s expertise as one of the world’s leading automotive industry suppliers,” said Dr. Siegfried Goll, Chief Executive Officer, ZF.
In addition to vehicle chassis components, the company can now supply suspension modules and complete axle systems based on customer specifications with higher added value. Shock absorbers, spring struts, ride-height control systems, and rubber-metal components will be added to the current ZF product line.
In the field of driveline technology, the Sachs market and technological position is well established with a full range of clutches, torque converters, and automatic components for manual transmissions. ZF will integrate this expertise into the engineering and production of future powertrain systems.
The Sachs product line also includes fan clutches, chains, chain tensioners, shock absorbers/struts for rail vehicles, and electric drive systems along with a future crankshaft starter/generator assembly.
As an independently operating company on the market, ZF Sachs will continue to serve their own customer groups. ZF products are primarily installed in cars, trucks, buses and construction machines produced by all major international vehicle manufacturers. The ZF product range includes manual, automatic, and continuously variable (CVT) transmissions. ZF also produces suspension components, chassis systems and steering systems (mechanical, hydraulic, electrical).
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