German auto supplier ZF, with 11 plants in Mexico, reports nearly US$ 1 billion profit
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Germany-based auto supplier ZF reported its profits for 2016 were slightly lower compared to 2015 results.
In the first full year after ZF acquired TRW in May 2015, an operation that included manufacturing plants in Queretaro and Jalisco, sales rose 21% to US$ 37.7 billion (€35.1 billion), but its net profits after taxes were US$ 992 million (€924 million), down from US$ 1.07 billion (€1 billion) in 2015.
ZF has 43 locations in North America, including 29 in the U.S., 11 in Mexico and three in Canada.
The company announced it will continue its growth strategy in North America, where the company employs 32,000 people, two thirds of them in Mexico.