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GER - ZF welcomes Acquisition of GM plant Strasbourg by Investor "Punch"

  • ZF's CEO Dr. Stefan Sommer: "Industrial logics and good possibility to meet increasing customer demands quickly"

  • Strategic investor "Punch" will produce 8-speed automatic transmissions for ZF within the scope of a license agreement


Strasbourg/Friedrichshafen. ZF Friedrichshafen AG welcomes the acquisition of the GM plant in Strasbourg by the strategic investor "Punch"; management confirmed agreements about placing orders with the possible new owner of the plant to produce 8-speed automatic transmissions for ZF.

"We see industrial logics in the acquisition of the GM plant by Punch", explains ZF's Chief Executive Officer, Dr. Stefan Sommer. "The free production capacities will help us to meet the high demand for our fuel-saving automatic transmissions." With the acquisition of the plant by Punch, the highly motivated personnel with long-term experience in transmission production gets a good follow-up employment, Sommer said.

"The technical personnel in Strasbourg will produce 8-speed automatic transmissions for ZF. Thus, we are able to support the Saarbrücken location which is situated 100 km away and has come to its expansion limits regarding space," explained Dr. Gerhard Wagner, Member of the Board of Management, responsible for the Powertrain Technology division. Key components for the transmission production within the scope of a licence agreement would still come from Saarbrücken so that employment there would also be reinforced. Wagner: "This is a good solution for all affected parties and makes it possible for us to supply our customers with the desired quantity of transmissions with the well-known ZF quality – and that very quickly as the production capacities and well-trained personnel are already available."

Sourced from ZF

 

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