ZF Friedrichshafen has completed its acquisition of TRW Automotive, the company announced. TRW will be incorporated into ZF as a new division called Active and Passive Safety Technology and the combined company will operate under the name ZF Friedrichshafen AG.
A merger agreement between the two companies was signed in September of last year but the deal was subject to a number of closing conditions including approval by TRW stockholders and antitrust clearances in various regions including the U.S., European Union and China.
The integration process is projected to last three to five years starting with the development of new products, materials management, sales and the aftermarket.
“Today marks the day we combine the strengths of ZF and TRW into a worldwide leading systems supplier in the automotive sector,” said Stefan Sommer, CEO of ZF. “We are all very excited about our plans for the future.”