ZF Chronicle Events 2013

www.chinatrucks.com1. Sales revenue in 2012 up 12% over 2011

Germany ZF announces its 2012 fiscal report in late April 2013. The sales revenue totals approximate 17.4 billion euros, up 12% over 2011 (15.5 billion euros). In addition to the North American area, ZF sees a respective 6% and 21% growth in Asia Pacific region and West Europe and suffers 1% and 14% decline in East Europe and South America.

2. An investment of 215 million USD in US to expand 8-speed and 9-speed transmission

On July 2013, ZF hosts an inauguration ceremony for its new transmission plant in South Carolina, US, and announces to invest 215 million USD to expand this plant in future in order to expand production of 8-speed and 9-speed transmission.

The new plant is located at Gray Court, South Carolina and has been put into use. The current annual production capacity is 800,000 units. The investment of 215 million USD will further increase the annual production by 50% to 1.2 million units. This plan is expected to complete in 2016. By then, the annual production will be 400,000 units of 8-speed transmission and 800,000 units of 9-speed transmission.

3. Full Speed on 9-speeds Transmission (But Not 10)

To help meet growing demand for fuel-efficient transmissions, ZF Friedrichshafen AG announced a $215 million expansion of the company's plant in US to boost production of eight- and nine-speed automatic transmissions by 50 percent to 1.2 million units by 2016. Stefan Sommer, ZF's CEO, spoke recently with Special Correspondent Richard Truett.

4. To Build an axle plant in Beijing

German supplier ZF Friedrichshafen AG will open a factory in Beijing to produce several thousand sets of axles per year for passenger cars. The project is one of several that ZF has announced for the Chinese market. In February, the company said it had negotiated a contract to supply 5,000 bus axles and steering systems to the Beijing Public Transport Corp. The plant will employ 350 workers.

5. To sell South African subsidiary AIBC

In November ZF says to sell Auto Industrial Brake & Chassis Holding Johannesburg (AIBC), its South African subsidiary to investor, Trinitas, although the parties have not disclosed the purchase price. AIBC contains a forge and a foundry, among other elements and produces components for the automotive industry, including brake disks. AIBC generated sales of EUR71m (US$96m) last year.

6. China’s TMT to buy ZF’s rubber & plastic business

On December 11 2013, ZF announces that Shanghai-listed Zhuzhou Times New Material Technology Co., Ltd. (TMT) signed an agreement with ZF Friedrichshafen AG to acquire its Rubber & Plastics Business Unit. The Rubber & Plastics Business Unit will be carved out and transferred into a new company. TMT and ZF will ensure that all legal and contractual requirements are met and safeguard the transition of the current employees' terms and conditions. The transaction is expected to close in the first half of 2014 and is subject to regulatory approvals for example in China and Europe as well as to approval by TMT’s shareholders.

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