ZF Friedrichshafen, a supplier of driveline and chassis technology to the automotive market, is planning to acquire US-based switch and sensor manufacturer Cherry.
Cherry, which has production locations in Germany, the Czech Republic, Mexico, Hong Kong, China, and India, supplies switches, sensors, and control units for the automotive industry.
In 2007, Cherry had sales of approximately $400m.
Adding to ZF’s electronics business, of particular interest is Cherry’s electronics, software, mechatronics, and plastics technology. “We are reinforcing our competence profile in the fields of mechatronics and electronics,” said Hans-Georg Härter, ZF's CEO and president.
According to Peter Cherry, chairman and president of Cherry, the acquisition has strategic as it will allow Cherry to expand its current customer base and ZF will bring additional resources for future growth in all product segments.
“There are many opportunities for incorporating Cherry’s technologies into the broad range of ZF applications,” said Cherry.