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E-Release – Gov. Sanford, ZF Group Announce New Manufacturing Operations in SC

July 22, 2010

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FOR IMMEDIATE RELEASE

Contact: Ben Fox   803.734.2100   bfox@gov.sc.gov

Gov. Sanford, ZF Group Announce New Manufacturing Operations in SC

fuel-efficient automatic transmission PRODUCER REPRESENTS

RECORD JOBS ANNOUNCEMENT FOR LAURENS COUNTY

Friedrichshafen, Germany – July 22, 2010 – Gov. Mark Sanford today joined ZF Group in Friedrichshafen, Germany to announce the company’s decision to expand its operations in South Carolina. ZF Group plans to invest approximately $350 million in a new manufacturing facility in Laurens County to produce fuel-efficient automatic transmissions for the passenger car and light truck market.

The announcement was made following a meeting at ZF’s corporate headquarters in Friedrichshafen that included members of ZF’s Board of Management and officials from the South Carolina Department of Commerce.

“ZF’s decision to make a jobs and capital investment of this magnitude, indeed the largest single infusion of jobs in the history of Laurens County, is an incredible compliment to our state. This announcement represents not only enormously good news for our state’s economy, but also is a telling dividend from our continued efforts to better the business climate in South Carolina. Our meeting with ZF today was productive and offered a real glimpse of what is headed to our state with ZF’s new operations, and I’d join with South Carolinians in thanking ZF for their investment. We are proud to count ZF among a growing and distinguished list of companies that have chosen to call South Carolina home,” said Gov. Mark Sanford.

ZF already operates manufacturing facilities in South Carolina, and has been gradually growing its presence in the state, thanks to its proximity to major transportation hubs, competitive business environment and skilled workforce. The new transmission plant is expected to employ 900 workers by the year 2015.

“We are eager to build our fuel-efficient automatic transmissions in North America. We believe the increasing emphasis on fuel economy and our reputation for producing high-quality, fuel-efficient transmissions provide an unprecedented opportunity to grow our business. We believe this production facility could serve as a key driver of this growth,” says Dr. Gerhard Wagner, Group Executive of ZF’s Car Driveline Division.

ZF expects to begin construction of its new, Laurens County facility in January. Hiring is anticipated to begin in early 2012 for skilled positions that include CNC operators, assemblers, production and logistics. The state’s worker training program, readySC™, will assist in the hiring process, Information will be posted at http://www.sctechjobs.com as jobs become available.

ZF is a leading worldwide automotive supplier for Driveline and Chassis Technology, with 123 production locations in 27 countries. In 2009, the ZF Group achieved sales of approximately 9.4 billion € with 60,000 employees. On the ranking list of automotive suppliers, ZF is ranked among the 10 largest automotive suppliers worldwide. For more information, visit www.zf.com.

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