ZF Friedrichshafen AG has commenced the integration of WABCO on receiving the last of the regulatory clearances.
Story by: Ashish Bhatia
Wolf-Henning Scheider, CEO of ZF Friedrichshafen AG, and Fredrik Staedtler, who will lead the Commercial Vehicle Control Systems division.
ZF Friedrichshafen AG has commenced the integration of WABCO Holdings Inc. on receiving regulatory clearances from all authorities. The final clearance for the previously announced merger of WABCO and ZF came from the Chinese State Administration for Market Regulation. Aimed at constituting a global integrated systems provider for commercial vehicle technology, ZF WABCO will be integrated into the former as a separate Commercial Vehicle Control Systems Division. With it, ZF will strengthen its focus on expanding its commercial vehicle service portfolio and on operating customer business according to Wolf-Henning Scheider, Chief Executive Officer at ZF Friedrichshafen AG. “The combination of these two successful enterprises will bring a new dimension of innovation and capability for commercial vehicle systems technology,” averred Scheider. “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,” he stated.
ZF Friedrichshafen completes the acquisition of WABCO, merging it into ZF as its Commercial Vehicle Control Systems Division.
New Commercial Vehicle Control Systems Division
Expected to be a value-addition for customers, employees and shareholders, the acquisition of WABCO marks a major milestone for the company. Testimony to the consistent transformation in the realm of powertrain and digitisation, its the start of a new era. WABCO will operate as an independent division – Commercial Vehicle Control Systems to become the tenth division within ZF. It will be headed by Fredrik Staedtler following the retirement of Jacques Esculier, Chairman and CEO of WABCO. By combining forces with the ZF Group, WABCO according to Esculier will be elevated to the three largest premium automotive suppliers with full access to the unique capabilities, resources and stability. “WABCO Board of Directors together with the shareholders are convinced that the strategic transaction with ZF represents the best future pass for our company, for us customers and for its employees, ” he stated. “By continuously driving our strategy for technology leadership, globalisation and excellence in execution we close this tremendously successful chapter,” he expressed.
The differentiated technologies and customer intimacy developed over the years will be leveraged going forward to sustain the company identity as the global leader for the next generation of autonomous, electric and connected commercial vehicles. Acknowledging the development to have come at an unprecedented time, Scheider, referring to the global pandemic and its impact said, “We are currently focussing our efforts on protecting our employees, ramping up our production, and securing the company’s liquidity.” Expressing confidence in the acquisition, in the long term, having the potential to make the company stronger, ZF according to Scheider will employ an estimated 12,000 people across 45 worldwide locations. These employees, in turn, are expected to work closely with ZF’s existing Commercial Vehicle Technology division.
Providing CV systems
Mobilising commercial vehicle integration, ZF is aiming to offer a unique range of products and services. The extensive range of products will span conventional and electric drive and chassis components. It will also consist of a comprehensive suite of sensors as well as fully integrated, advanced braking, steering and driver assistance systems. Especially aimed at Original Equipment Manufacturers (OEMs) actively seeking technological differentiation for their new vehicle platforms. The company will also offer an extensive global aftermarket service network for commercial vehicles. ACI
