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ZF Hungaria and ZF Lenksysteme, which make transmissions and steering systems, respectively, expect to close 2010 with revenue of €353 million, up 53% from 2009, ZF Hungaria CEO Ulrich Diller said on Wednesday.
The companies target revenue of €389 million in 2011, Mr Diller said. The current stock of orders has the companies' capacity tied up until Q1 2011, he added.
German automotive industry supplier ZF bought Hungarian transmission maker Csepel Auto in 1995. Since then, it has invested about €200 million in Hungary. (MTI Econews)