German technology firm ZF has recorded strong growth for the period between January and August this year. The technology company is well-known for its involvement in vehicle drivetrain and chassis technologies.
Chief Executive Officer of ZF Friedrichshafen AG, Dr. Stefan Sommer, presented the positive business performance at the 65th IAA Commercial Vehicles. Sales figure climbed to €12.09 billion (approximately S$19.65 billion) - an increase of 10 percent compared to the same period last year. Sommer added that the increment is higher than the industry average.
The growth is particularly strong in U.S., where ZF recorded 30 percent increase in sales figures to €2.1 billion, and in China where sales climbed by 26 percent to €2.0 billion.
At the end of August, ZF has a total workforce of around 74,000 people worldwide, including 42,600 employees in Germany.
