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ZF Group (China) FY2011
Business Highlights
Business Overview
-In 2011, the total sales in China are 14 billion yuan which are up by 14% on the previous year, accounting for 10 percent of its global revenue.
-In 2011, ZF Drivetech (Suzhou) Co., Ltd. achieved a record high sales revenue of 7,200 million euros. Its new EcoLifeautomatic transmission won a particularly good market feedback and its automatic mechanical transmission (AMT) has been adopted and installed on buses in Suzhou city. (From a press release on January 18, 2012)
Suspension of Joint venture project
-It has been revealed that ZF, which was looking to form a joint-venture company with Qijiang Gear Transmission Co., Ltd., has broken off talks with the company. In August 2010, ZF signed a letter of intent with Chongqing Machinery & Electronics Holding Group, the parent organization of Qijiang Gear. Talks on the joint business have been held over 20 years, and the industry sees that resumption of talks is possible depending on Chongqing Machinery’s and the local government’s stance toward the venture project. (From news releases issued by multiple sources on August 9, 2011)
Start of Production Ceremony
-On Oct, 1, 2011, ZF Shanghai Steering Systems Co., Ltd. held SOP ceremony for its SGM EPSdp project. ZF Shanghai pocesses now 3 EPS assembly lines, just one year after its first PQ35 EPS production line started production.(From press releases, October 10, 2011)
SOP of ZF Shanghai Steering Systems (Yantai)
-On May 10, 2011, ZF Shanghai Steering Systems (Yantai) Co., Ltd. held a grand ceremony to celebrate the completion of the project and start of production. (From press releases, May 10, 2011)
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