ZF completes acquisition of TRW Automotive

News
May 18, 2015

May 18, 2015

ZF Friedrichshafen AG and TRW Automotive Holdings Corp. have announced that the companies have completed the transaction under which ZF has successfully acquired TRW. TRW will be incorporated into ZF as a new division called Active & Passive Safety Technology. The combined company operates under the name ZF Friedrichshafen AG.

zf

John  C Plant, President and CEO of TRW (left) and

ZF’s CEO Stefan Sommer 

“Today marks the day we combine the strengths of ZF and TRW into a worldwide leading systems supplier in the automotive sector,” stated Stefan Sommer, ZF’s Chief Executive Officer. “We are all very excited about our plans for the future, with the combination allowing us to capitalise on strategic opportunities and create near- and long-term sustainable value for our customers and employees.”

“The combined company is a powerhouse of automotive technologies, ranging from driver assistance and occupant safety systems, to drivelines and transmissions, and braking and steering systems,” stated John C. Plant, President and CEO of TRW. “This unique combination of advanced technologies comprehensively addresses the growing, industry-wide trends of safety, fuel efficiency and autonomous driving.”

On September 15, 2014, ZF and TRW signed a Merger Agreement for the acquisition of TRW by ZF. This agreement was subject to a number of closing conditions, all of which have now been met, including the approval by TRW stockholders and antitrust clearances in various countries and regions such as the US, China, and the EU.

“With pro forma sales exceeding €30 billion and more than 130,000 employees, the combined company is a top three global automotive supplier,” continued Sommer. “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.”

www.zf.com  

 


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News
May 18, 2015

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