ZF Friedrichshafen CEO, Stefan Sommer is lauding the acquisition as TRW Automotive as “a milestone in our Group’s strategy,” one year after its purchase.
After receiving final antitrust clearance, ZF announced completion of its purchase of TRW Automotive on May 15, 2015. On the same day, shares of the US automotive supplier were delisted from the New York Stock Exchange.
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“The acquisition is a milestone within our long-term strategy,” said Sommer. “The timing was perfect – not only with respect to the financial framework but also in view of market requirements.
“With the new structure, we are placed to become a global integrated systems supplier and hence are equipped to shape future automotive megatrends.
“Feedback from our customers continues to be very positive. We can demonstrate this each day with something new: the acquisition made absolute sense and is proving to be a success.”
Since the TRW buy, ZF has focused in particular on three particular activities: the digitisation of mechanical components, e-mobility, and reducing road accidents and emissions.
“Safety is a major factor on the journey toward autonomous driving,” added Sommer. “We’ll be facing a whole new set of challenges for which we’ll have to find the right answers and develop the right products.
“Our engineers are working vigorously to address these demands.”
Integration, which was scheduled to take three to five years, is progressing. “A number of key stages have already been achieved during the first twelve months,” noted Sommer. “Sales and Purchasing are fully integrated, and, as combined units, provide clear interfaces to customers and suppliers.
“Moreover, we have recreated the post of corporate market, occupied by Peter Lake, who brings many years of marketing know-how from the former TRW.
“We are also currently re-aligning our North American activities in the Detroit area and bringing our businesses together under one roof at the former TRW headquarters in Livonia. The former ZF headquarters in Northville will become a Sales and Engineering Centre for the region.”
Six weeks after the acquisition, ZF showcased its first integration development with the Advanced Urban Vehicle, a concept for urban mobility, which combines core technologies of both companies.
At this year’s IAA Commercial Vehicles in Hanover in September, ZF will present the second Innovation Truck with combined products from ZF and ZF TRW.
