Statement from Northern Kentucky Tri-ED Regarding Bosch Group Acquisition of ZF Lenksysteme GmBHFebruary 6, 2015
Fort Mitchell, KY – Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) President and CEO Dan Tobergte issued the following statement regarding Bosch’s acquisition of ZF Lenksysteme GmbH (ZFLS), including ZF Steering Systems LLC in Northern Kentucky.
“We understand that Bosch’s acquisition of ZF Lenksysteme provides more opportunities for the company’s growth in Northern Kentucky and that this is good news for the region. ZF Steering is a supportive community partner with strong relationships with the City of Florence, Boone County, the Cincinnati/Northern Kentucky International Airport (CVG), and the Kentucky Cabinet for Economic Development and other local entities. We look forward to continuing a very good relationship with ZF Steering and supporting its growth and success in Florence, Kentucky through “NKY Boost,” our business retention and expansion program. We also appreciate Mike Hirsch’s leadership (VP Operations, ZF Steering) with the NKY FAME manufacturing workforce initiative, which is supported by Northern Kentucky Tri-ED. Building strong relationships, like the one we have with ZF Steering (and now “Robert Bosch Automotive Steering GmbH”), is a top priority as we work to help existing industries expand and succeed in Northern Kentucky.”
ZF Steering Systems LLC produces steering components and systems in three buildings, a total of 500,000 square feet, in Florence, Kentucky. Four production lines and over 150 employees were added throughout 2013 and 2014. A $155M expansion was completed in 2012, creating 445 new jobs. The company has expanded a total of five times since consolidating all of its steering production in North America to Northern Kentucky in 2006.
ZF Steering ranked number four on the 2014 Cincinnati Business Courier Largest Tri-State Manufacturers list, with 1,200 employees.
About The Bosch Group
The Bosch Group is a leading global supplier of technology and services. According to preliminary figures, its roughly 290,000 associates generated sales of 48.9 billion euros in 2014. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its more than 360 subsidiaries and regional companies in some 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2014, Bosch applied for some 4,600 patents worldwide. The Bosch Group’s strategic goal is to deliver innovations for connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” Additional information is available online at www.bosch.com, www.bosch-press.com, http://twitter.com/BoschPresse
About Northern Kentucky Tri-ED
Founded in 1987, the Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) serves as the primary economic development marketing agency for Boone, Campbell and Kenton counties in Northern Kentucky. Since 1987, 585 companies have located or expanded in Northern Kentucky accounting for the creation of 49,572 new primary jobs for a total of 117,567 jobs created. These jobs have generated an economic impact of $25B. New and expanding companies have accounted for $6.7B in capital investment. Tri-ED is a key partner in Vision 2015, a 10-year strategic plan for growth in the region. For more information, visit www.NorthernKentuckyusa.com. Northern Kentucky Tri-ED can also be followed through social media channels via Facebook, LinkedIn, Twitter and YouTube. To sign up for NKY Thrives e-newsletter, please visit www.nkythrives.com.