FRIEDRICHSHAFEN, Germany – ZF has announced
it has closed its acquisition of Wabco, forming a global integrated systems provider
for commercial vehicle technologies.
With the acquisition complete, ZF’s
focus will be to expand its commercial vehicle service portfolio.
“The combination of these two
successful enterprises will bring a new dimension of innovation and capability
for commercial vehicle systems technology. Thanks to our perfectly
complementary portfolios and competencies, we are able to offer unprecedented
solutions and services for manufacturers and fleets globally. In this way, we
are actively shaping the future of the changing transportation industry,” said
Wolf-Henning Scheider, CEO of ZF Friedrichshafen AG. “Together, we will create
added value for our customers, employees and shareholders alike. This
acquisition marks a major milestone in the history of our company. With it, we
are consistently continuing the transformation in the powertrain and in the
field of digitalization.”
Wabco will operate as an independent division
within ZF, the company said, dubbed Commercial Vehicle Control Systems. The new
division employs 12,000 people at 45 locations globally. Jacques Esculier,
chairman and CEO of Wabco has retired from his role, and the division will be
headed by newly appointed Fredrik Staedtler.
ZF says its combined product portfolio
now encompasses conventional and electric drive and chassis components, a
comprehensive suite of sensors as well as fully integrated, advanced braking,
steering and driver assistance systems for OEMs. Additionally, ZF says it can
offer digital fleet management solutions and an extensive global network of
aftermarket services for commercial vehicles.
Credit: Source link