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.  

Movers & Shakers: Round-up of all the latest changes

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

Read More

GSF announces new-look leadership team

GSF will add 20 new branches to its 180-strong network over the next 12 months; up to 20 further locations will follow from 2025

Read More

Winners crowned at CAT Awards 2024

The annual event, held at the Lowry Hotel, welcomed more than 200 people from across the aftermarket

Read More

Fraudsters guilty of selling knock-off aftermarket parts in UK

Group used Amazon as platform for its products

Read More

APH Automotive appointed Suplex’s exclusive GB distributor

Director Andrew Hopkin said the move “is a feather in the cap for APH”

Read More

Go to comments

Your email address will not be published.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