New plants in the US and China, high demand for car driveline and chassis technology and a healthy upswing in commercial vehicles in the second half of the year, have boosted the business of ZF Friedrichshafen AG. The technology company is set to close 2013 with a 10 per cent increase in sales to an anticipated ?17 billion.

?With this pleasing growth rate, we have once again outstripped the average in the industry and further strengthened our position among the world?s leading automotive suppliers,? said Dr Stefan Sommer, CEO, ZF, at the annual press conference in Stuttgart. He noted that particularly in the most important market after Europe and North America, ZF had taken a major step forward with the opening of its new plant in Gray Court, US in July. In recent years, the company has invested almost a half billion euros in the establishment and expansion of the production location for 8- and 9-speed automatic transmissions.