Haerter, the global president of ZF, Germany, confirmed in an interview with First Financial that he is negotiating with Chongqing Qijiang Gear Transmission Co., Ltd., confirming a DC-based M&A rumors.
Halter said that the above transaction is still in negotiations, and no details such as the transaction amount can be disclosed.
ZF is the world's largest manufacturer of automotive transmission parts and its transmission products are mainly used in the field of large-scale commercial vehicles. In 2009, its sales reached 9.371 billion euros; Minjiang Gear was once the largest gear manufacturer in China and its “Huijiang†brand transmission was The market share of large-scale luxury passenger cars exceeds 80%, and the overall market share of large and medium-sized passenger cars reaches 52%.
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