ZF Group has introduced the rebranding of its Passive Security Methods division to ‘ZF Lifetec’. The brand new branding is a component of the present authorized separation of the Passive Security Methods division inside the ZF Group. In 2023, ZF Passive Security Methods achieved gross sales of round €4.7 billion (approx USD 5.1 billion).
ZF stated that, as a number one passive security system supplier, ZF Lifetec pursues a well-defined technique to additional enhance gross sales and profitability as a standalone enterprise pushed by megatrends within the automotive trade and more and more stringent security laws.
“Our Passive Security Methods division has developed excellently. As a standalone model, ZF Lifetec good points the strategic scope to additional speed up gross sales development and profitability,” stated Dr. Holger Klein, CEO of the ZF Group. “The carve-out is progressing effectively and we proceed to discover choices to additional develop ZF Lifetec sooner or later.”
“Immediately’s announcement of the brand new model ZF Lifetec is a visual sign, each internally and externally, of the unbiased positioning and aspirations of the Passive Security Methods division,” added Dr. Martin Fischer, Member of the Board of Administration of the ZF Group accountable for the Passive Security Methods division.
Rudolf Stark, Head of ZF Passive Security Methods, added: “Our new ZF Lifetec model combines our mission of saving lives with our expertise pushed strategy. We’re aiming for development, pushed by automotive megatrends and globally rising ranges of security laws. Our new model stands for a unprecedented stage of security for automobile occupants.”
In October 2022, ZF Group initiated the carve-out of its Passive Security Methods division, giving it extra strategic choices for its future growth with a view to enabling greater development in gross sales and profitability. With the brand new model, ZF Lifetec now begins a journey in direction of a standalone firm, leveraging the sturdy place in a structural development market much less affected by automotive trade shifts, the corporate stated in a media launch.
ZF Lifetec is without doubt one of the main passive security tools suppliers with a worldwide presence of 46 areas throughout 18 international locations and a market share of greater than 20% of worldwide gross sales in its core product classes. The excellent product portfolio covers inflatable restraint programs, steering wheel programs and seat belt programs, starting from small autos within the quantity section to essentially the most refined luxurious autos.
