People + Companies

Excerpt

ZF has successfully completed the acquisition of the commercial vehicle technology supplier Wabco, having gained approval from all the regulatory authorities. Wabco shares ceased public trading with immediate effect. Following the end of the acquisition process, the integration of the company into the ZF Group will begin. The aim of the two organizations is to advance the development of commercial vehicle technologies and to expand the range of services for commercial vehicles and the operational customer business. In the future, Wabco will operate as the independent commercial vehicle control systems division of ZF, which makes it the group's tenth division. It employs around 12,000 people at 45 locations worldwide. "This acquisition represents an important milestone in the history of our company," said Wolf-Henning Scheider, CEO of ZF. The division will be headed by Fredrik Staedtler. He has long experience of the commercial vehicle industry, most recently as Head of ZF's commercial vehicle technology division. Jacques Esculier, CEO of Wabco, will leave the company.

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