ZF to Acquire Automotive Division of Romanian Engineering Services Provider BeeSpeed
17 May 2017
www.chinabuses.org: ZF Friedrichshafen AG has signed an investment and cooperation agreement with the engineering services company BeeSpeed, with the ultimate goal of eventually acquiring BeeSpeed’s automotive division. BeeSpeed Automatizări S.R.L. is headquartered in Timisoara in western Romania and has been working for the Braking System Business Unit of the Active and Passive Safety Technology Division (ZF TRW) for ten years.
“BeeSpeed is a long-term and reliable partner,” says Manfred Meyer, head of Engineering in the Braking Systems Business Unit “By investing in and finally acquiring this company, we will have permanently secured the expertise of BeeSpeed’s 75 engineers who work for us while offering them outstanding perspectives as part of the ZF Group.” ZF is better positioning itself as a systems supplier, not only in terms of software and IT, but also with specific mechanical systems. “This acquisition will also enable us to further expand our expertise in intelligent mechanical systems,” emphasizes Meyer.
The investment and cooperation agreement was signed the other day by ZF and the owners of BeeSpeed in Timisoara. According to the agreement, the Automotive Division will spin-off from BeeSpeed by the beginning of 2018, with the legal transfer to ZF taking place on January 1, 2019. The purchase price was not disclosed. The head of the automotive division and the co-shareholder of BeeSpeed, Dr.-Ing. Scridon Sever, will continue to head up the engineering team in the future. The engineering services provider BeeSpeed was founded in 1994. In addition to its automotive division, its second mainstay is the water treatment industry. BeeSpeed will continue to manage this division independently.
ZF in Romania
ZF Friedrichshafen AG has a total of 4,000 employees at the Timisoara (Temeswar) and Roman (Romesmarkt) locations in Romania. These plants are part of the Occupant Safety Systems Business Unit within the Active and Passive Safety Technology Division. Sales in Romania last year came to roughly €100 million.
Source : www.chinabuses.org
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