ZF Establishes Joint Venture in China

Wednesday, June 21, 2006
At the headquarters of ZF Friedrichshafen AG, the management of ZF and of Nanjing Highspeed & Accurate Gear (Group) Co. Ltd. (NGC) signed a contract to establish the ZF Nanjing Marine Propulsion Co. Ltd. (ZF-NMP). The company will be based in Nanjing, P.R. China, owned 60 percent by ZF (China) Investment Co. Ltd., Shanghai (a subsidiary of ZF Friedrichshafen AG) and 40 percent by NGC. The new company will assemble and market ZF Marine’s range of heavy duty transmissions for application in workboats and ocean-going commercial vessels powered by engines up to 18,500 hp. The ZF-NMP factory building is currently under construction and assembly of transmissions will commence in the near future, after all governmental permissions have been received. The formation of this Joint Venture is in line with ZF Marine’s strategic plan to expand activities with new products in new markets. Since 1999, expansion into the workboat/commercial marine market has been a high priority. This new Joint Venture will allow ZF to fill in product gaps in this important segment.
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