ZF to extend systems business

Stuttgart. ZF Friedrichshafen hopes to make its systems business account for half the company's revenues by 2010.

That would double the systems business' relative importance to the group. CEO Siegfried Goll expects major growth in both drivetrain engineering and the chassis and suspension sector, especially the latter.

ZF Friedrichshafen is emphasizing sales of axle systems, axle modules and steering systems.

"We have new projects that will soon go into production," Goll said.

In 2002, the passenger-car chassis and suspension sector increased revenue by 7 percent to 1.7 billion euros.

Goll plans to invest 650 million euros this year. Most will go for developing the systems business, which requires investment in production and assembly facilities. The rest will be spent on developing continuously variable transmissions (CVT), electric steering systems and in a new plant for the production of axle systems in Lebring near Graz, Austria.

The components are for the new X3 compact sport-utility, which Magna Steyr manufactures for BMW.

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