ZF to sell rubber and plastic unit

For some time already, mergers in the rubber and plastics industry have led to a concentration which results in a long-term, tough competitive situation in the automotive supplier industry, especially for the Rubber & Plastics Business Unit. This aspect is particularly true for topics such as cost advantages and the more flexible structures of competitors.

Against this backdrop, ZF Friedrichshafen AG analyzes which future strategy is best for its rubber & plastics activities and serves the interests of ZF employees as well. In the course of this analysis process, ZF has been approached by a company that has shown high interest in acquiring the Rubber & Plastics Business Unit from ZF.

First talks with the interested party have shown that there are indeed promising development prospects for the business unit and its employees. From the market, customer, technology, and regional point of view, there are convincing synergy effects in sight.

Therefore, ZF is now validating the offer made by the interested company with the aim of attaining a long-term reinforcement and targeted further development of the business unit, thus to best safeguard its existing locations and jobs.

Discussions are still at an early stage. Nevertheless, ZF has decided to inform the employee representatives at the locations and the workforce of the business unit about the possible prospects. In doing so, ZF wants to provide them with an opportunity to contribute their vital interest to the negotiations with the interested party. ZF envisages striking a possibly positive business deal at the earliest in some weeks.