ZF Group forecasts 2011 sales will hit €15.5 billion, 20 percent more compared to 2010 and a new record for the company.
The group currently employs 72,100 workers worldwide, 12 percent more than in 2010 following the acquisition of Hansen Industrial Transmissions and parts of Honsel.
„We stay on the road to success and achieve an all-time high in 2011 with sales amounting to EUR 15.5 billion. After a sales growth of 38 percent in 2010, ZF Group again achieves a growth of 20 percent, which is far more than the industry average,” ZF CEO Hans-Georg Härter said in a press release.
ZF achieved its highest growth rates in North America, where it recorded an increase of more than 40 percent, and in Eastern Europe, where business grew by more than 30 percent. In Europe as a whole, ZF’s growth amounts to almost 20 percent.
In South America, ZF sales grew 15 percent, while in the Asia Pacific region growth was almost 10 percent. As far as products are concerned, ZF Group benefited from high demand from the passenger cars segment, especially from the premium segment, which proved to be stable and didn’t show any sign of economic slowdown.