Timken Signs Global Contract with ZF Group
COLMAR, France, Sept. 2 -- Building on a relationship that has spanned nearly 50 years, The Timken Corporation recently signed its first global contract with ZF Group, a leading international automotive supplier in driveline and chassis technology. The global contract is for an innovative package bearing assembly for automatic transaxles as well as other tapered bearings and is part of an overall strategy of the ZF purchasing organization to select key long-term strategic partners.
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"In choosing our strategic suppliers," says Johannes Kamzelak, director - corporate purchasing production materials for ZF Group, "we consider four factors: the ability of a partner to participate integrally in the development process; quality of both performance and product; a commitment to eliminating cost-driving factors; and finally, efficient, timely and flexible logistics performance."
"This multi-year agreement is a very important milestone in our long business relationship with ZF and reflects our drive to bring value to automotive customers through innovation," says Bob Logston, vice president - automotive - Europe "We've worked in partnership with ZF on the development of new applications by combining the competence of both companies -- Timken for bearings and ZF for transmission and axle technology. We're looking forward to continuing that partnership."
ZF develops and produces transmissions, steering systems, axles and chassis components, as well as complete systems for passenger cars, commercial vehicles and off-road machinery. ZF also is a transmission specialist for marine craft, rail-bound vehicles and helicopters.
Timken supplies ZF plants in Austria, Brazil, France, Germany, Hungary, Italy, UK, and the U.S. and is the ZF Group's largest tapered roller bearing supplier.
"The Timken Company ( www.timken.com ) is a leading international manufacturer of highly engineered bearings, alloy and specialty steels and components, and a provider of related products and services. Following its February 2003 acquisition of The Torrington Company, Timken employs 28,000 people worldwide in operations in 29 countries. In 2002, the combined companies had sales of approximately $3.8 billion.
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