ZF announces sale of South African chassis supplier AIBC

ZF announced that it will sell ZF's South African subsidiary, automotive brake and chassis holding company Johannesburg (AIBC), to investment company Trinitas.

The ZF South Africa subsidiary AIBC has four factories in Johannesburg and employs a total of approximately 900 employees, mainly producing components such as brake disks for the automotive industry. In 2012, AIBC’s cumulative sales reached 71 million euros.

In 1999, ZF began to enter the South African parts market through the formation of a joint venture company AIBC. In 2006, AIBC became a wholly-owned subsidiary of ZF and became the local supply department of ZF's chassis technology business unit in South Africa.

ZF said that the company recently carried out a strategic reorganization of its business and sold subsidiaries that are not only non-core businesses but also independent of the group's global production network. The transaction still needs the approval of the South African antitrust agency and is expected to take effect on December 31 this year.

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