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.
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