Harold Mathers Retires
After 50 years at the helm, founding President Harold Mathers has retired from ZF Mathers. Mathers signed papers a year ago transferring ownerships of the company to ZF Marine, the world’s largest supplier of marine propulsion systems. Russ Polansky, formerly branch manager of ZFI Marine in Seattle, was appointed to head up the AF Mathers facility. As part of the agreement with ZF Marine, Mathers stayed actively involved in day-to-day operations until a smooth transition had been made. Mathers credits the company’s long history and sustained profitability to a team that includes a core group of loyal employees. He reported that he did not seriously consider a buyout proposal until ZF Marine approached him two years ago. “I expected to retire some day, but I wasn’t in any great hurry.
ZF Fortifies Product Line, Business Plan
Consolidation of manufacturing and service entities is perhaps the world's worst kept secret. Marine propulsion manufacturers, in particular, have been rapidly consolidating companies, lines and capabilities in order to broaden their organizations to be truly global, while filling any holes in the power range along the way. ZF, a renowned maker of marine transmissions, has done this and more in becoming a single source propulsion supplier. The expansion of the product line includes a complete propulsion systems was part of ZF Marine's strategic plan established in January 1999. It has now become a reality, with the founding of the Propulsion Systems division, based at ZF Padova.
