Friedrichshafen/Livonia, Mich. ZF is selling its Global Body Control Systems Business Unit and has today signed a purchase agreement with Luxshare based in Hong Kong that fits the strategic goals of both companies.
“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,” explains Dr. Franz Kleiner, who is the member of the Board of Management responsible for the ZF TRW Active and Passive Safety Division and the North America region. “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 numerous complementary links between the 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,” says Dr. Kleiner, “it is a logical decision that will enable the Global Body Control Systems business to better develop outside of the ZF Group.”
Luxshare intends to operate the Global Body Control Systems business as an independent company that will remain headquartered in Radolfzell, Germany. The Global Body Control Systems management team will continue to lead the business.
“The Global Body Control Systems business will become a major growth driver within the Luxshare corporate portfolio,” explains Laichun Wang, CEO of Luxshare. “Luxshare will leverage its experience to create significant growth for Luxshare Precision and help the Body Control Systems business to expand and to execute their defined strategy to be a global leader in automotive interface solutions. It will give Global Body Control Systems access to new customers and to consumer technologies for automotive applications, improve its position in the Chinese market, and foster its further growth by providing the required resources.” Moreover, Luxshare is strongly committed to invest in Research and Development as it is planning to enhance market competitiveness and penetration and to support the Body Control Systems business to execute their existing plan to establish the Advanced Human Interface Solutions (AHIS) product line.
ZF TRW’s Body Control Systems business (including Radio Frequency Eletronics) has nearly 6,000 employees at 16 locations in eleven countries and 11 sales and engineering offices in five different countries. It serves customers in Eastern and Western Europe, Asia, focus on China, and North and South America and is a major developer and global producer of automotive interface solutions such as complex switches, steering column control modules, electronic control panels, HVAC controls, electrical and mechanical steering column locks, remote keyless and passive entry access systems, tire 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. The transaction is subject to the approval of the relevant regulatory authorities.