ZF Trading will close branch

Hamburg location to shut down this year

Schweinfurt, Germany. ZF Trading plans to close its Hamburg location by the end of 2004, CEO Alois Ludwig told Automobilwoche.

The branch is closing because its largest customers demanded direct delivery from the main warehouse in Schweinfurt, which has better logistics and higher capacities.

A payment plan that includes retirements and staff relocations to other outlets was drawn up for the branch's 18 employees.

ZF Trading's remaining branches are in Frankfurt, Cologne and Munich.

The company expects sales to increase to approximately 642.7 million euros this year from 641.5 million euros in 2003.

"I expect a rise to approximately 730 million euros by 2008," Ludwig said. "It is our aim to be able to have 95 percent of our product line, which has original equipment quality, available for immediate supply.

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