The worlds leading auto parts manufacturer ZF Friedrichshafen AG has announced the completion of acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities.
- Signalling the start of WABCOs integration into ZF, the acquisition unites two industry leaders behind a shared vision to create a customer-focused powerhouse to advance commercial vehicle technology.
- With the addition of WABCO, ZFs 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.
- The major deals and investments by ZF Friedrichshafen are featured below:
April 2020: ZF North America a subsidiary of ZF Friedrichshafen AG has announced its partnership with Michigan-based Detroit Sewn to the fight against coronavirus. As per agreement 100,000 face masks is expected to be delivered to Detroit Sewn by the end of April 2020.
March 2020, ZF Friedrichshafen AG has announced joint venture with Wolong Electric Group Co. Ltd.. The partners will develop and produce electric motors and electric components for various vehicle applications at the Chinese Shangyu location. The joint venture will supply components for the new ZF hybrid transmission.
November 2019: ZF Friedrichshafen AG had announced the construction of third Chinese research and development center in Guangzhou southern China. The company plans to invest approximately $95 million in the new development center.
About ZF Friedrichshafen AG
ZF Group, headquartered in Friedrichshafen, Germany, is a leading auto component manufacturer. The company provides system for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. The company has operations at around 240 locations in more than 40 countries of the world. The company has workforce of approximately 148,000 people worldwide.