In May 2016, ZF announced that it “is intensifying its business commitments in Iran. To this end, the company has opened up the ZF Pars SSK subsidiary, which will start to combine ZF’s business activities in the region.” Matthias Benz, Senior Vice President for Corporate Market at ZF, stated “‘[t]he Iranian market offers a great deal of potential.…The new Iranian subsidiary will enable us to concentrate our existing business activities, while also tapping into new business areas and acquiring new customers.’” Further, “[t]he business activities of this joint venture, which will continue to exist alongside the new ZF Pars SSK subsidiary, will be intensified; the production facility is also scheduled to be modernized and updated.” (ZF Website, “ZF Opens Subsidiary in Iran,” 6/15/2016).
In 2008 and 2014, ZF was reported as one of the “renowned German companies [ ] involved in major Iranian infrastructure projects, especially in the petrochemical sector.” (Payvand Iran News, “German-Iranian trade up 7.8 percent,”12/2/2008; Iran Daily, “Iran-Germany trade up 19%,” 7/10/2014).
Automotive industry supplier, specializing in engines and parts. Has presence in Iran. (Matthias Kuntzel, "Who is Who in German Trade With Iran")