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ZF Sells Body Control Business to Chinese Electronics Firm
ZF Friedrichshafen AG is selling its Global Body Control Systems business unit—including its radio frequency electronics operations—to Luxshare Ltd., a Hong Kong-based company that specializes in consumer and industrial electronics components.
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ZF Friedrichshafen AG is selling its Global Body Control Systems business unit—including its radio frequency electronics operations—to Luxshare Ltd., a Hong Kong-based company that specializes in consumer and industrial electronics components.
Luxshare intends to operate the body control business as an independent company, maintaining its management team and headquarters in Radolfzell, Germany. Terms of the deal, which is expected to be completed by year-end, weren’t disclosed.
The sale will allow ZF to better focus on its core businesses while giving the body control business access to complementary products, new customers and Luxshare’s resources in China. Luxshare also plans to expand the business’ human-to-machine interface technology.
Body Control supplies switches, steering column control modules and locks, electronic control panels, HVAC controls, remote keyless and passive entry access systems, tire pressure monitoring systems and weather-related sensors. The business has nearly 6,000 employees with 16 manufacturing locations in 11 countries and 11 sales and engineering offices in five countries.
Formed in 2004, Luxshare had sales of about $2.1 billion last year. The company’s main Luxshare Precision Industry Co. operations make cables and cable connectors for computers, and communications and electronics systems for automotive, consumer and medical applications.
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