ZF did not release financial terms of the proposed deal, which will require approval of EU and German anti-trust authorities. ZF also would acquire Bosch Rexroth’s industrial gears business.
"Strengthening our non-automotive segment is an important objective of our long-term corporate strategy," says ZF chief executive Stefan Sommer.
Bosch Rexroth’s large gearbox unit has more than 1,200 employees and production plants in China and Witten, Germany.
