Wabco is now part of ZF
Now that all official approvals have been granted, ZF Friedrichshafen has completed the acquisition of Wabco, a supplier of commercial vehicles. Wabco's shares, which were before listed on the New York stock exchange, were withdrawn from the stock exchange market with immediate effect.
In cooperation with Wabco, ZF will extend both its maintenance services for commercial vehicles and its operational customer business. "We are looking forward to working together to address the enormous challenges and opportunities that lie ahead for the transport industry," says Wolf-Henning Scheider, chairman of the board at ZF Friedrichshafen.
In future, Wabco will operate as an independent unit responsible for commercial vehicle control systems, thus becoming the technology company's tenth division. Jacques Esculier, chairman and CEO of Wabco, will leave the company.
The new division will be led by Fredrik Staedtler, who has been newly elected to this role. Formerly, he served as head of ZF's division for commercial vehicles technology. (mw)