China's Zhuzhou Times Acquires ZF Rubber and Plastics Business

ZF , the German company, announced on December 11, 2013 that it has signed an agreement with China’s Zhuzhou Times New Material Technology Co., Ltd. (TMT) to acquire its Rubber and Plastics Business Unit.

As early as October 2013, foreign media reported on the merger and acquisition negotiations between TMT and ZF. The two companies recently signed an agreement. The transaction is expected to be completed in the first half of 2014 and is still subject to the approval of relevant authorities in China and Europe and TMT shareholders.

ZF Plastics and Plastics Business is part of the company's Automotive Chassis Technology Division, which has approximately 3,300 employees worldwide, operating revenues of 718 million euros in 2012, and operating revenue expected to reach 700 million in 2013. Around the euro. The business unit has operations in Germany, Shanghai, China, Brazil Sorocaba, Melbourne, Australia, Trnava Slovakia and other places.

After ZF's rubber and plastics business unit is merged into TMT, the headquarters will still be located in Damme, Germany, and the general leadership of the department will still be responsible for the operation and management. In addition, TMT will maintain all existing plants in the Rubber and Plastics Business Unit.

TMT is located in Zhuzhou, Hunan, China. Its main business is manufacturing rubber NVH (Noise, Vibration, Harshness, noise, vibration and acoustic roughness) components , polymer composite materials, thermal insulation materials and special packaging materials. The company's main controlling shareholder is China South Locomotive Co., Ltd.