FRIEDRICHSHAFEN, Germany, /PRNewswire/ -- ZF Friedrichshafen
AG will take over the large gearbox business of Bosch Rexroth AG
with more than 1,200 employees.
For ZF, the acquisition is an entry into the business with
industrial gears that are used in oil rigs, mine vehicles, tunnel
drilling machines, or cableways, for instance. In addition, the
technology company is strengthening its wind turbine gearbox
business. The acquisition agreement was signed on May
13, 2015. The acquisition
is still subject to the approval of the antitrust
authorities.
"Strengthening our non-automotive segment is an important objective
of our long-term corporate strategy," says ZF's CEO
Dr. Stefan
Sommer, commenting on the transaction. "The acquisition of
the industrial gears and wind turbine gearbox segments of Bosch
Rexroth AG is an excellent supplement to our Industrial Technology
portfolio and opens up new customer groups." In 2014, Bosch Rexroth
generated sales of approximately EUR 300
millionwith the large gearbox business. In the same year, ZF
generated roughly twelve percent of its Group sales with the
Industrial Technology division in which the company bundles its
off-road activities. This share is expected to grow in the long
term.
ZF is
taking over the two production locations of Bosch Rexroth AG in
Witten (North Rhine-Westphalia/Germany)
with almost 900 employees and in Beijing (China)
with more than 300 employees, as well as the service location in
Lake Zurich (USA)
with approximately 15 employees, totaling more
than 1,200
employees. The primary plant in Witten is not only home to
Production but also to the Administration, Development, and Sales
departments for large gearbox technologies (industrial gears and
wind turbine gearboxes); in Beijing,
Bosch Rexroth exclusively produces wind turbine gearboxes. At both
locations as well as in Lake Zurich, the company offers its
customers support services.
"We
are confident that our large gearbox business will benefit from
ZF's transmission expertise, and be able to make the best possible
use of its growth opportunities in the new unit to be created at
ZF," says Karl Tragl, Chairman of the Executive Board of Bosch
Rexroth. He adds that Bosch Rexroth has successfully advanced the
business in recent years. "We have specifically broadened our
product range with the development of the new wind turbine
gearboxes for the weak wind segment," says Tragl. In future, Bosch
Rexroth will focus more intensively on the core business with
industrial and mobile applications.
"We
are looking forward to working together with experienced staff with
more than 30 years of development and production know-how for wind
turbine gearboxes and even over half a century of expertise in
industrial gears," explains Wilhelm
Rehm, responsible for Corporate Materials Management and
Industrial Technology on the ZF Board of Management. "We take
account of this by making Witten the headquarters of our new
Industrial Drives business unit."
The
two companies have agreed not to disclose the purchase price. The
takeover is subject to approval by the antitrust authorities.
Press
contact:
Andreas
Veil, Head of Business Press, Phone:
+49-7541-77-7925, Cell Phone: +49-170-9198-465, E-mail:[email protected]
Jochen
Mayer, Business Press, Phone:
+49-7541-77-7028, E-Mail: [email protected]
For
further press information and photos please
visit: www.zf.com
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