WABCO Vehicle Control Systems

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WABCO Vehicle Control Systems
IndustryComponent manufacture and supply for commercial vehicles
PredecessorWestinghouse Air Brake Company
Founded1869; 153 years ago (1869), as Westinghouse Air Brake Company
FounderGeorge Westinghouse Jr.
DefunctMay 29, 2020; 2 years ago (2020-05-29), became Commercial Vehicle Control Systems division of ZF
FateAcquired by ZF Friedrichshafen[1]
Headquarters,
Area served
Worldwide (39 countries, 28 manufacturing locations)
Key people
Jacques Esculier, CEO.
Productselectronic and active braking systems
aerodynamic and stability systems
suspension systems
transmission automation systems
fleet management systems
Servicescustomized aftermarket solutions[buzzword] and dedicated support for fleet operators, maintenance workshops and distribution partners
RevenueUS$2.63 billion (2015)
US$351 million (2015)
US$291 million (2015)
Number of employees
12000
Websitehttps://www.wabco-auto.com

WABCO was a U.S.-based provider of electronic braking, stability, suspension, and transmission automation systems for heavy-duty commercial vehicles.[2]

History[edit]

The Westinghouse Air Brake Company, founded in the U.S. in 1869, was acquired by American Standard in 1968. The earthmoving and mining product range was sold to Dresser Industries in 1984,[3] before the remainder was spun off in 2007 as WABCO Holdings, Inc.

Previously headquartered in Bern, Switzerland (having moved from Brussels, Belgium in February 2019),[4] WABCO employed more than 11000 people in 34 countries worldwide. In 2013, WABCO's total sales were $2,720.5 million, a rise of 10% over the previous year.[5] WABCO was a publicly traded company listed on the New York Stock Exchange as WABCO Holdings, Inc., with the stock symbol WBC.[6]

On 28 March 2019, German auto parts maker ZF Friedrichshafen announced an agreement to acquire WABCO for over $7 billion based on customary regulatory and shareholder approvals.[7] On 29 May 2020, WABCO was acquired by ZF Friedrichshafen through a merger agreement and thereafter became the Commercial Vehicle Control Systems division of ZF.[1]

References[edit]

  1. ^ a b "ZF Completes WABCO Acquisition". 29 May 2020. Retrieved 11 Nov 2021.
  2. ^ WABCO Holdings Press Release on www.wabco-auto.com
  3. ^ Campbell, Richard (September 30, 2016). "Classic Machines: The Caterpillar 639D elevating scraper". Contractor. Archived from the original on 2022-01-14. Retrieved 2019-11-25.
  4. ^ swissinfo.ch (15 Feb 2019). "Wabco car systems manufacturer moves HQ to Switzerland". SWI swissinfo.ch. Archived from the original on 2019-10-18. Retrieved 1 August 2019.
  5. ^ "WABCO's Sales Growth in 2013 Strongly Outperforms Volatile Global Market; Company Achieves New Record for Full Year Performance Earnings; Provides Guidance for 2014". WABCO. 13 Feb 2014. Retrieved 13 Feb 2014.
  6. ^ "NYSE Listings Directory - WABCO Holdings Inc". New York Stock Exchange. Retrieved 13 Nov 2008.
  7. ^ "WABCO to be Acquired by ZF Friedrichshafen for $136.50 per Share in Cash". 28 Mar 2019. Retrieved 11 Nov 2021.