ZF Friedrichshafen
The automotive supplier is preparing its airbag and seat belt division for a possible partial sale.
(Photo: dpa)
The automotive supplier ZF Friedrichshafen wants to spin off its airbag and seat belt division and thus prepare for a possible partial sale. The foundation company announced on Wednesday in Friedrichshafen that the decision was the result of a continuous review of the ZF portfolio. It should “open up new strategic options for the business with occupant protection systems”.
This includes bringing in external investors who could help the world’s number two in the passive safety technology business to achieve stronger growth. So far, ZF has a market share of around 25 percent in this area, “with considerable potential for more,” as the statement said.
The spin-off is expected to be completed by the end of next year. With revenues of 3.8 billion euros, the passive safety systems division accounts for around ten percent of the group’s sales. She came to ZF with the purchase of the US auto supplier TRW in 2015. Last year, the division grew by nine percent despite interrupted supply chains.
“Strategically and financially, we are in a comfortable position with stable and decent profits,” said Martin Fischer, who is responsible for the division on the ZF Board of Management. The business can benefit from the trends towards autonomous driving and greater vehicle safety.
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