ZF acquires large gearbox business of Bosch Rexroth

June 2, 2015 11:40 am

Germany-based auto component manufacturer ZF announced acquisition of industrial gears and wind turbine gearbox business of Bosch Rexroth.
 
For ZF, the acquisition is an entry into the business with industrial gears that are used in oil rigs, mine vehicles, tunnel drilling machines, or cableways, for instance. In addition, the technology company is strengthening its wind turbine gearbox business.
 
The acquisition agreement was signed on 13th May. Both the companies declined to reveal the price of the acquisition.
 
Commenting on the transaction ZF’s CEO Dr Stefan Sommer said, “The acquisition of the industrial gears and wind turbine gearbox segments of Bosch Rexroth AG is an excellent supplement to our Industrial Technology portfolio and opens up new customer groups.”
 
In 2014, Bosch Rexroth generated sales of approximately EUR 300 million with the large gearbox business. In the same year, ZF generated around 12 per cent of its Group sales with the industrial technology division in which the company bundles its off-road activities.
 
ZF will take over the two production locations of Bosch Rexroth AG –  one in Witten, Germany and other one in Beijing, China.