ZF Friedrichshafen AG, a global leader in driveline and chassis technology, and TRW Automotive Holdings Corp. have announced that they have completed the transaction under which ZF has successfully acquired TRW. TRW will be incorporated into ZF as a new division called Active & Passive Safety Technology. The combined company will operate under the name ZF Friedrichshafen AG.
“Today marks the day we combine the strengths of ZF and TRW into a worldwide leading systems supplier in the automotive sector,” said Stefan Sommer, ZF’s Chief Executive Officer. “We are all very excited about our plans for the future, with the combination allowing us to capitalize on strategic opportunities and create near- and long-term sustainable value for our customers and employees.”
“The combined company is a powerhouse of automotive technologies, ranging from driver assistance and occupant safety systems to drivelines and transmissions, and braking and steering systems,” said John C. Plant, President and CEO of TRW. “This unique combination of advanced technologies comprehensively addresses the growing, industry-wide trends of safety, fuel efficiency and autonomous driving.