ZF Successfully Acquires WABCO

ZF Friedrichshafen AG has announced that the company has successfully completed the acquisition of WABCO after gaining required approval from the required regulatory authorities. After the acquisition, WABCO has immediately ceased all types of public trading at the New York Stock Exchange with immediate effect. The acquisition with the WABCO empowers both companies to create customer-focused services for commercial vehicle technology.

WABCO has said that the company would operate as an independent division within the ZF Friedrichshafen AG. During the acquisition process, WABCO will continue to serve its existing customers and will strengthen its existing portfolio of services for its customers. Both the companies have said that they would incorporate digital solutions in their fleet management system to optimize their commercial vehicle management system.

Chief Executive Officer of ZF Friedrichshafen AG, Wolf-Henning Scheider said, “The combination of these two successful enterprises will bring a new dimension of innovation and capability for commercial vehicle systems technology. 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.”

“We are closing this acquisition in an unprecedented social and economic situation. 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,” ZF Chief Executive Officer continued.

“Together, we will create added value for our customers, employees and shareholders alike. 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,” Wolf further added.

Susan White

Susan White writes related to the Business news Category. She manages to cover anything. Susan is our freelance contributor. She is responsible for covering reporting in finance and business categories. Susan has experience of 5 years as reporter to Business insights.

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