GERMANY: ZF looks to expand electronics business
ZF Friedrichshafen is planning to strengthen its electronics activities as part of a long-term strategy to boost growth and profits, according to its CEO speaking to a German newspaper.
CEO Stefan Sommer told Handelsblatt that the company will unveil a strategic plan at the end of 2013 which will include the expansion of the product portfolio with electronic components and the improvement of the management structure by 2025.
The company expects to post revenue of about EUR17bn for 2012, but the margin will be below last year's 5.5% due to the polarisation of the market, Sommer told the newspaper.
He also said that ZF expects to grow over the next two years on strong orders and the launch of its transmission plant in the US.
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ZF Friedrichshafen has posted full-year 2012 sales of EUR17.4bn (US$22.6bn), although operating profit fell 19% to EUR687m....
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