Germany's ZF expects China sales to rise 17% this year
German auto-parts supplier ZF Friedrichshafen AG says revenue in China is expected to increase 17 percent year-on-year to 16.4 billion yuan ($2.6 billion) in 2012.
In 2011, the company generated sales of 14 billion yuan in China, accounting for 10 percent of its global revenue.
This year, the company had an especially strong first quarter, with sales up 28 percent from a year earlier.
ZF is building a new axle plant in Beijing to supply Beijing Benz Automotive Co., a joint venture between Daimler and Beijing Automotive Industry Holding Corp. The plant is due to start production before the end of the year.
ZF currently has 21 production facilities in China and a workforce of 5,536 people.
ZF ranks No. 8 on the Automotive News Europe list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $15.74 billion in 2010.