36 Krypton was informed that on May 30, the German auto parts supplier ZF announced that it had obtained all the necessary regulatory approvals and successfully acquired commercial vehicle technology supplier WABCO (WABCO).The latter will become the tenth business unit of ZF: Commercial Vehicle Control Systems Division (Commercial Vehicle Control Systems Division).In March 2019, ZF announced the acquisition of WABCO at a price of US $ 136.5 per share and a total of approximately US $ 7 billion. The two parties will jointly become a global commercial vehicle technology integration system supplier, and the combined sales will be approximately40 billion euros.WABCO mainly produces electronic brakes, stability devices, suspension and transmission control systems for heavy commercial vehicles. It was founded in the United States in 1869 under the name Westinghouse Air Brake Company, was acquired by American Standard in 1968, and was spun off in 2007.1. Listed on the New York Stock Exchange.After the acquisition by ZF, WABCO Chairman and CEO Jacques Esculier announced his retirement, and the new division will be led by Fredrik Staedtler, head of ZF ’s Commercial Vehicle Technology Business Unit.According to ZF, this new commercial vehicle control system division has approximately 12,000 employees in 45 locations around the world and will cooperate with ZF’s existing commercial vehicle technology division, after-sales division and global development team in the future..According to ZF’s official website, they have previously worked closely with WABCO, including: In 2016, ZF and WABCO jointly developed the evasive maneuver assist technology (EMA, Evasive Maneuver Assist) system, which canEffective control of the longitudinal and lateral movement of the trailer can help avoid rear-end collisions; since 2008, WABCO has developed a pneumatic clutch with ZF; in 2002, the two parties also jointly developedCab air spring damper module (CALM).Among them, WABCO provides valve devices for anti-rollover tubes, and ZF provides shock absorbers; and as early as 1997, the two parties began cooperation in mass production of CDC commercial vehicle adaptive vibration damping systems.ZF provides shock absorbers for this purpose, and WABCO provides control units.ZF and WABCO ’s respective expertise in the commercial vehicle sector (Source: ZF) ZF said that after the acquisition is completed, its product portfolio will be more complete-including traditional drive systems and electric drive systems,Chassis components, sensor components, and integrated advanced braking, steering, and driver assistance systems-can help automakers achieve technological differentiation in new car platforms.In addition, ZF can also provide digital fleet management solutions and a global commercial vehicle after-sales service network.Recently, according to surging news reports, ZF plans to cut 12,000 to 15,000 jobs worldwide by 2025, accounting for about 10% of its total employees.ZF CEO Wolf-Henning Scheider (Wolf-Henning Scheider) said that due to the impact of the new coronary pneumonia epidemic, customer demand has decreased, ZF will suffer huge financial losses in 2020.”These losses threaten our financial independence. This crisis will last longer, and even by 2022, we will obviously fail to reach our sales targets.” Even with such a dilemma, Wolff HanningShi Aide still said: “In the long run, once we overcome the direct impact of the current epidemic, this well-prepared and well-funded acquisition will make us stronger in the future.” ———— IIt is 36 krypton reporter Wang Yijin. We can add WeChat catherineyijin for business communication. Please note company + name + position + intention.
ZF acquires WABCO for USD 7 billion to become a global commercial vehicle technology integration system supplier
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