ZF is divesting its Global Body Control Systems Business Unit to Luxshare based in Hong Kong.
“ZF TRW’s Global Body Control Systems business including the Radio Frequency Electronics business has a strong market position, a broad product portfolio in attractive markets, a strong team and a solid financial foundation,” said ZF TRW Active and Passive Safety Division and North America board member, Franz Kleiner.
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“With Luxshare, we are fortunate to have found a financially sound owner with excellent long-term strategic prospects for the BCS business that offers continuity and is in the interest of the employees, customers and business partners and the strategic development activities of the Global Body Control Systems Business Unit and in particular in the area of Advanced Human Interface Solutions.”
During the evaluation process, ZF identified complementary links between products and technologies of the Global Body Control Systems Business Unit, the Radio Frequency Electronics Product Line and Luxshare’s product lines and technologies.
“Even though the Global Body Control Systems business is operating successfully and on a financially healthy basis, it is a logical decision that will enable the Global Body Control Systems business to better develop outside the ZF Group,” added Kleiner.
Luxshare intends to operate the Global Body Control Systems business as an independent company, which will remain headquartered in Radolfzell, Germany. The Global Body Control Systems management team will continue to lead the business.
ZF TRW’s Body Control Systems business (including Radio Frequency Eletronics) has nearly 6,000 employees at 16 locations in eleven countries, as well as 11 sales and engineering offices in five different countries.
It serves customers in Eastern and Western Europe, Asia, China and North and South America and is a developer and global producer of automotive interface solutions such as complex switches, steering column control modules, electronic control panels and HVAC controls.
Included also are electrical and mechanical steering column locks, remote keyless and passive entry access systems, tyre pressure monitoring systems, and rain/light/humidity/solar load sensors.
The complete transfer of business activities is expected to be concluded by the end of 2017, with the transaction is subject to the approval of relevant regulatory authorities.
