ZF group sells 4.3 percent stake of its holding in ZF CVCS India
ZF Group sells 4.3 percent stake of its holding in ZF Commercial Vehicle Control Systems India Limited to increase financial flexibility for its growth.
Press Release
According to press release on 27 November 2024, ZF Group has sold 820,000 shares, equalling 4.3 percent stake, in its listed Indian subsidiary, ZF CVCS India, to increase liquidity and financial flexibility for its growth plans.
The sale of shares has no effect on ZF’s control of ZF CVCS India, as it is the long-term strategy of ZF to maintain its solid majority shareholding in the entity. ZF CVCS India is the market-leader in the Indian CV supplier industry and remains a very important pillar in ZF´s global growth strategy.
On the back of a supportive market environment in India, ZF CVCS India has shown a strong operating and financial performance. The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market.
About ZF
ZF is a global technology company supplying advanced mobility products and systems for passenger cars, commercial vehicles, and industrial technology. Its comprehensive product range is primarily aimed at vehicle manufacturers, mobility providers and startup companies in the fields of transportation and mobility. ZF electrifies a wide range of vehicle types. With its products, the company contributes to reducing emissions, protecting the climate as well as enhancing safe mobility. Alongside the automotive sector – passenger cars and commercial vehicles – ZF also serves market segments such as construction and agricultural machinery, wind power, marine propulsion, rail drives and test systems.
With some 168,700 employees worldwide, ZF reported sales of €46.6 billion in fiscal year 2023. The company operates 162 production locations in 31 countries.
About ZF in India
In India, ZF is one of the leading suppliers of technology solutions and services that is shaping mobility trends in the country. The Group has been operating on the subcontinent for over six decades with 18 manufacturing facilities, 10 engineering centers and over 16,000 employees.
The Group in India reported sales revenues of € 1.1 billion (around INR 10,000 crores) across all segments and continues to provide strong local manufacturing and application engineering support to domestic and global OEMs.
About ZF Commercial Vehicle Control Systems India Ltd.
ZF Commercial Vehicle Control Systems India Ltd is Part of ZF’s new Commercial Vehicle Solutions (CVS) division and is the region’s market leader for advanced braking systems, conventional braking products, and related air assisted technologies and systems.
Powered by its vision for accident-free driving and greener transportation solutions, it provides industry-leading solutions in the Autonomous, Connected and Electric (ACE) domains to commercial vehicle industry in India. Headquartered in Chennai, Tamil Nadu, ZF Commercial Vehicle Control Systems India Ltd has five manufacturing facilities, an advanced technology development center, a vehicle testing facility, and a nation-wide aftermarket distribution and services network.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States.
