ZF completes WABCO acquisition01 June 2020

Left: Wolf-Henning Scheider, CEO of ZF Friedrichshafen AG, and Fredrik Staedtler, who will lead the commercial vehicle control systems division

ZF Friedrichshafen AG has successfully completed the acquisition of US commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities.

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, and become the tenth division of the Germany-based technology company.

The new Commercial Vehicle Control Systems division employs around 12,000 people at 45 locations worldwide and will work 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.

“We are closing this acquisition in an unprecedented social and economic situation,” ZF CEO Wolf-Henning Scheider commented with regard to the COVID-19 pandemic and its impact. “We are currently focusing our efforts on protecting our employees, ramping up production, and securing our company’s liquidity. In the long term, this thoroughly prepared acquisition will make us even stronger for the future once we have overcome the immediate effects of the pandemic.”

He added: "The combination of these two successful enterprises will bring a new dimension of innovation and capability for commercial vehicle systems technology...This acquisition marks a major milestone in the history of our company. With it, we are consistently continuing the transformation in the powertrain and in the field of digitalization.”

The combined product portfolio now encompasses conventional and electric drive and chassis components, a suite of sensors as well as fully-integrated advanced braking, steering and driver assistance systems. Additionally, ZF can offer digital fleet management solutions and an extensive global network of aftermarket services for commercial vehicles.

ZF said that it is prepared to meet the diverse requirements of a commercial vehicle sector that is increasingly driven by digitalization: advancing road traffic safety, improving vehicle efficiency and lowering emissions, while delivering reduced total operating costs (TCO). The increasing use of digital solutions in fleet management offers the opportunity to optimize the entire system and to control the flow of goods efficiently.

William Dalrymple

Related Companies
WABCO Automotive UK Ltd
ZF Aftermarket

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