Friedrichshafen AG and TRW Automotive Holdings Corp. have announced that the shareholders of TRW have now approved the acquisition of TRW by ZF. At a special meeting of TRW’s shareholders held, shareholders representing 79 per cent of TRW’s shares outstanding voted in favor of adopting the proposed merger agreement. Overall, 81 per cent of TRW’s shareholders participated in the vote.
“The approval is a milestone in the acquisition process of TRW,” said Stefan Sommer, CEO of ZF. “We are very glad that the TRW shareholders have supported our plans with such a clear majority. This adds to the positive feedback we have received from customers and employees of both companies.”
John Plant, chairman and CEO of TRW, said, “We are pleased that the TRW shareholders have approved the transaction, which provides significant benefits for our shareholder who will receive full and certain value for their shares, as well as for our employees, customers and communities, all of which will reap the benefits of being part of a larger, more diversified organization that is well positioned to serve the automotive industry.”
Under the terms of the merger agreement, ZF will acquire TRW in an all-cash transaction valued at approximately $12.4 billion based on equity value. TRW shareholders will receive $105.60 in cash for each share of TRW stock.
On November 14, 2014, ZF and TRW received notice from the Committee on Foreign Investment in the United States (CFIUS) that CFIUS had concluded its review of the transaction and determined that there are no unresolved national security concerns with respect to the proposed acquisition by ZF of TRW. The transaction remains subject to further customary closing conditions, including antitrust clearances.
ZF and TRW continue to expect the transaction to be complete in the first half of calendar year 2015.
The Australasian New Car Assessment Program (ANCAP) has received a boost following the appointment of Ms Wendy Machin to its Board of Directors.
Ms Machin joins the ANCAP Board as an independent director, providing additional capacity and expertise in road safety.
“Wendy’s appointment to the ANCAP Board will bolster the already high level of expertise our Directors bring to the company,” said ANCAP Chairman, Lauchlan McIntosh AM.
“Wendy has a strong history and trusted standing in the road safety community and her business and management acumen will add much to the governance and future direction of ANCAP.”
Ms Machin’s role as one of the now eleven directors of ANCAP Australasia Limited will be undertaken in addition to her role as Deputy President of the National Roads & Motorists’ Association and several other
Board and Committee roles including director of Destination NSW, the NSW Government Biofuels Expert Panel and a member of the ANZ Stadium Advisory Committee. Ms Machin previously served as NSW
Minister for Consumer Affairs under the Fahey government and is a former director of the Australian Automobile Association.
“This appointment comes at a pivotal time as ANCAP continues its evolution, increasing its requirements for each star rating once again from 1 January 2015, and encouraging manufacturers to include life-saving
active safety technologies such as autonomous emergency braking (AEB) and lane support systems (LSS) into their vehicles,” added McIntosh.
Ms Machin’s term commenced in late October 2014.
ANCAP is supported by all Australian and New Zealand motoring clubs, the Australian Government, the New Zealand Government, Australian state and territory governments, the Victorian Transport Accident Commission, NRMA Insurance and the FIA Foundation.
EMM are pleased to announce to all that to ensure a long-lasting and sustainable existence of the company, from May 9th 2014, the ownership of EMM Holding BV has been fully transferred to Thomas van der Kooij, Henk Klein Wassink en Peter de Roo, with a majority share holding for Thomas van der Kooij. This new step ensures EMM with stakeholders that have common goals forward and continuously keep the interest of EMM and its stakeholders as their top priority.
Over the past three years many important steps have already been taken to gain improvement and put EMM in a profitable and sustainable position. It is an organization ready to grow and provide quality and value added solutions to the market. This is a fine result of all of EMM’s efforts in the receiving of the Graydon award for financial health in May.
The transfer of ownership of EMM Holding BV is an important step in the exiting years ahead. EMM will continuously strive to be ‘First in Non-Paint’. The company engage passionately in dialogue with their dealers and end users. It is a dialogue that strengthens everyone and generates learning and improvement, because improvement is something to do together.
EMM received the Graydon Award on May 19th. This puts EMM in the top three per cent best financially solid companies in its field of business. In these times it is important to know with whom business is done so that companies can cooperate without financial risks. It is therefore an award to be proud of in these changing times.
Graydon is the leading source for the business world in the Netherlands with regard to responsible business dealings. There are strict conditions for a company to qualify for the Graydon Award. A company must have a positive credit rating and must have a minimal risk of default. Information gathered by Graydon consists of revenue data, annual figures, creditworthiness, payment behaviour and the general situation the company is in. The Graydon database is updated daily. Business relations can rest assured that the most complete and current details are being used. The Graydon Award is granted based on strictly neutral information.
EMM International BV
EMM is active throughout the world and has its main base in the Netherlands. It also has its own branches in many countries and collaborates on a joint venture basis. Its central theme is the development, manufacture and distribution of goods and disposables for all sectors that use paints on a large scale. EMM???s brands are Colad, Hamach, Ronin Tools and Tander.