ZF to start integrating Tianhe Future does not rule out small-scale acquisitions

According to Reuters, ZF CEO has said recently that it has started to set up an integration team to gradually complete the acquisition of TRW and consider continuing to make small-scale acquisitions.

ZF and Tianhe jointly announced at the beginning of this month that at the recent special meeting of the Tianhe shareholders, 79% of the shareholders voted in favor of ZF’s offer for TRW. A total of 81% of Tianhe shareholders participated in the voting.

ZF CEO Stefan Sommer said in an interview that "does not rule out small-scale acquisitions," and said that large-scale acquisitions are not planned, and the main task is to integrate TRW.

In addition, ZF also stated that it will select Tianhe CEO Peter Lake to enter its management committee and be responsible for the marketing business. However, prior to the formal completion of the transaction, ZF stated that it was not able to determine how many of its former employees would be appointed.

Since the top management of the ZF management committee is lower than TRW, the latter’s executives will be reduced after entering ZF. Therefore, Stefan Sommer stated that it is impossible to predict how many WFCA executives will join ZF. Currently there is no big gap between the salaries of the employees of the two company management committees.

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