ZF buying Bosch Rexroth's large gearbox business

ZF Friedrichshafen AG announced that it will acquire the large gearbox business of Bosch Rexroth AG. The acquisition agreement was signed May 13 and the two companies have agreed not to disclose the purchase price. The deal is subject to approval by regulatory authorities.

The business covers industrial gears and gear systems are used in oil rigs, mine vehicles, tunnel drilling machines and wind turbine gearboxes. In 2014, Bosch Rexroth’s large gearbox business had sales of approximately €300 million.

"Strengthening our non-automotive segment is an important objective of our long-term corporate strategy," said ZF CEO Dr. Stefan Sommer. "The acquisition of the industrial gears and wind turbine gearbox segments of Bosch Rexroth AG is an excellent supplement to our Industrial Technology portfolio and opens up new customer groups."

ZF is taking over the two production locations of Bosch Rexroth AG in Witten, Germany, and Beijing, China, as well as a service location in Lake Zurich, Ill.

"We are confident that our large gearbox business will benefit from ZF's transmission expertise, and be able to make the best possible use of its growth opportunities in the new unit to be created at ZF," said Karl Tragl, chairman of the Executive Board of Bosch Rexroth. (Source: Dieselprogress.com)