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ZF Friedrichshafen AG has successfully completed the acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities. WABCO shares, previously listed on the New York Stock Exchange, cease public trading with immediate effect.
With the addition of WABCO, ZF's focus will be on expanding its commercial vehicle service portfolio and on operating customer business.
In the future, WABCO will operate as an independent division, Commercial Vehicle Control Systems, within ZF Friedrichshafen AG and become the tenth division of the Germany-based technology company. During the integration of WABCO ZF will continue to strengthen its existing service portfolio and put its customers first.
The new Commercial Vehicle Control Systems division employs around 12,000 people at 45 locations worldwide and will work closely with ZF's existing Commercial Vehicle Technology division, ZF's aftermarket division and the global development team. Jacques Esculier, Chairman and CEO of WABCO, has decided to retire from his role. Effective today, the division will be headed by newly appointed Fredrik Staedtler. Staedtler brings significant commercial vehicle experience, gained over the past decades working in the industry, most recently as head of ZF's Commercial Vehicle Technology division
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