ZF Friedrichshafen to set up plant in Pune

Auto component-maker ZF Friedrichshafen AG of Germany will invest Euro 20 million in setting up plant in Pune which will manufacture transmissions, shock absorbers, clutches through its newly formed 100 per cent subsidiary ZF India. The company is also contemplating to set up a research and development centre in the country. It caters to clients like Maruti, Tata Motors, Hyundai, JCB and BEML. It clocked a turnover of Euro 50 million during last year.