ZF Friedrichshafen AG has completed the acquisition of TRW Automotive, a US global supplier of automotive systems, modules and components to automotive OEMs and related aftermarkets. The latter will be incorporated into ZF as a new division called Active & Passive Safety Technology. The combined company operates under the name ZF Friedrichshafen AG.
According to the firms, the merger can address the growing, industry-wide trends of safety, fuel efficiency and autonomous driving; also adding that combined company is a top three global automotive supplier.
ZF and TRW signed the acquisition agreement in September last year. The process of integrating TRW into ZF is projected to last three to five years. The process will start in those areas where customers will benefit from combined activities first; this includes the development of new products, materials management, sales, and the aftermarket.
(PRA)
