New plants in the US and China, high demand for car driveline and chassis technology and a healthy upswing in commercial vehicles in the second half of the year, have boosted the business of ZF Friedrichshafen AG. The technology company is set to close 2013 with a 10 per cent increase in sales to an anticipated €17 billion.
¨With this pleasing growth rate, we have once again outstripped the average in the industry and further strengthened our position among the world´s leading automotive suppliers,¨ said Dr Stefan Sommer, CEO, ZF, at the annual press conference in Stuttgart. He noted that particularly in the most important market after Europe and North America, ZF had taken a major step forward with the opening of its new plant in Gray Court, US in July. In recent years, the company has invested almost a half billion euros in the establishment and expansion of the production location for 8- and 9-speed automatic transmissions.