• ZF and AAC dissolve their existing Joint Venture agreement on 22nd December 2021
• AAC acquires ZF’s 51 percent share of the Joint Venture
ZF and the Automotive Asiatic (Thailand) Co, Ltd. (AAC) have announced that their current Joint Venture agreement will officially dissolve, following a mutual agreement to alter the structure of the existing partnership.
The new arrangement will come into effect on 21 December 2021 and will include AAC acquiring ZF’s 51 percent share of the Joint Venture.
After this date, ZF and AAC will continue to remain in close partnership, with the current Joint Venture companies TRW Asiatic., Ltd. (TAC) and TRW Asiatic (M) Sdn Bhd (TAC-M) to become the sole distributors in Thailand and Malaysia for TRW aftermarket products.
Within Thailand and Malaysia, all other ZF brands (ZF,Lemförder, Sachs) and products will be available through ZF Aftermarket.
For customers in ASEAN markets outside of Thailand and Malaysia, all ZF brands will continue to be available from ZF Aftermarket, including the TRW branded product ranges.