On January 8, 2014, CSR and ZF AG held a press conference in Osnabrück, Germany, and officially announced that CSR acquired ZF 's metal rubber product business unit, which is the largest in China's Auto Parts industry in Europe. Cross-border acquisitions.
According to reports, CSR's Zhuzhou Times New Materials signed a contract with German ZF Group on December 11 last year to acquire ZF Group's metal rubber product business unit. The core assets involved in this transaction are the well-known brands of automotive vibration damping systems, and German Borg, a 100-year-old company owned by ZF. Its global annual sales are approximately 700 million euros. The total number of employees worldwide is approximately 3,500, of which 3 plants are located in Germany. There are 1800 employees.
China South Locomotive has promised to continue its employment guarantee for the 3rd factory in Germany, and has increased its investment in R&D and production to account for 5% of sales, and has increased its investment in the entire Borg business by 50 million euros over the next five years.
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