ZF sells away Electronic Interfaces business
Aequita, an owner-managed industrial group with long-standing activities in the automotive industry, will be very well suited to offer the Electronic Interfaces product line a long-term and secure future perspective, ZF said in a press release. The planned transaction is the result of a careful and thorough review of the strategic options for the Electronic Interfaces product line as part of ZF’s transformation, which the company initiated in 2020.
The Electronics Interfaces product line develops and produces gearstick systems, actuators and haptic operating systems for the automotive industry with around 750 employees in Germany, China, Mexico and the USA.
Stephan von Schuckmann, ZF Board Member responsible for the Electrified Powertrain Technologies Division, says: “Aequita’s approach, values and experience in the automotive industry are a perfect fit for Electronic Interfaces. Aequita has recognised the high innovation potential and has excellent prerequisites to develop Electronic Interfaces into a medium-sized technology leader.”
Aequita plans to develop the Electronic Interfaces product line into an independent company with its own brand. The company’s Diepholz site (Lower Saxony, Germany) is to remain as the headquarters with research & development and production. The production sites in Shenyang (China) and Juárez (Mexico) will remain, as will the sites in Northville and El Paso (USA) and Shanghai (China).
“The Electronic Interfaces product line with its future-oriented, modern technologies is a hidden treasure that we want to unearth,” explains Dr.-Ing. Axel Geuer, managing partner of Aequita. “Especially in the actuators and the technology with magnetorheological fluids for haptic control we see great potential, which we want to lift together with the worldwide team of Electronic Interfaces.”
In line with the wishes of the product line’s employee representatives, ZF has agreed with Aequita to take over all existing collective bargaining and other legal agreements for the workforce. The product line will become an independent company under the umbrella of the owner-managed industrial group and will remain bound by collective agreements.
The financial details of the agreement were not disclosed. The transaction is subject to approval by the relevant competition authorities.
Related articles
Project develops interaction of software components for future cars
ZF demos automotive supercomputer, autonomous minibus
Hydrogen-driven double-decker bus has electric drive axle from ZF
German automotive industry creates sector-spanning digital platform
Crisis speeds transition to electromobility, says ZF
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
