ZF ACQUIRES WABCO FOR $7 BILLION

by

Technology giant ZF has announced that it has
acquired commercial vehicle safety
technology specialist Wabco at $136.50 per share, or approximately $7 billion.

ZF say that the acquisition is part of its ‘Next Generation Mobility’ strategy, and has highlighted an interest in developing automated driving functions in commercial vehicles such as trucks and trailers. It is the first time that ZF has expanded into commercial vehicle braking systems.

Wolf-Henning Scheider, CEO of ZF, said: “For ZF the acquisition of a specialist and leader for commercial vehicle braking systems means adding a stable and growing business segment and enables our existing commercial vehicles division to expand its expertise in vehicle dynamics control.”

Meanwhile, Jacques Esculier, Chairman and CEO of Wabco, said: “Joining forces with high respected ZF will create a leading global technology company well positioned to capitalise on future demand for autonomous, efficient and connected commercial vehicles.”

Wabco products and services include braking systems, stability control, aerodynamics, telematics and more. The company generated revenues of €3.3 billion in 2018 and employs around 16,000 employees in 40 countries. ZF expects to close the transaction of Wabco by the start of 2020.  

WAI signs agreement with Motus to expand into South African market

The move will “further expand the number of solutions we bring to the global aftermarket”

Read More

Hand car washes to be targeted in new government immigration probe

Around 1,000 staff, previously assigned to the now-abandoned Rwanda deportation scheme, will lead the effort

Read More

“Import more mechanics” or aftermarket garages will grind to a halt, government told

The sector is in an employment pit with vacancy rates at 5.1 per 100 employees, its highest point in 21 years

Read More

Movers and Shakers: Aussie joins A1 ADAS Solutions Group

All the latest changes from across the sector, including new roles, promotions, and retirements

Read More

Garages worried as MOT tester training to move online

DVSA says change applies to all current testers and those returning from suspensions or lapses

Read More

Go to comments

Your email address will not be published. Required fields are marked *