A ZF Global Share Service Organization for Asia Pacific was launched in the Zhangjiagang Economic and Technological Development Zone on March 22.

The service organization was set up as a functional headquarters by ZF Friedrichshafen AG which is a world top 500 enterprises and also one of the world's largest suppliers of transmission and chassis technology.

The center serves 55 companies of 15 countries and regions in the financial account processing and settlement business. The project is expected to become the ZF’s largest GSSO center in the Asia Pacific region and the second largest in the world.

The establishment of the center will contribute to industrial updating in Zhangjiagang city. In 2014, ZF Friedrichshafen AG invested $150 million to produce automobile brake control systems and occupant safety systems for which the sales volume exceeded $320 million in 2017. The electronic power-assisted steering system production line for the second phase of the base will start construction in April this year, with an estimated annual sale of $600 million.

The opening ceremony for the establishment of ZF Global Share Service Organization Center for Asia Pacific in Zhangjiagang was launched on March 22. [Photo/zjgonline.com.cn]