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Official Site: wabco-auto.com
Wikipedia: WABCO Vehicle Control Systems Page Sections History Article Index |
History
The following section is an excerpt from Wikipedia's WABCO Vehicle Control Systems page on 22 July 2020, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.
WABCO is an American provider of electronic braking, stability, suspension and transmission automation systems for heavy duty commercial vehicles.
Founded in the U.S. in 1869 as Westinghouse Air Brake Company, WABCO was acquired by American Standard in 1968. The earthmoving and mining product range was sold to Dresser Industries in 1984, before the remainder was spun off in 2007. Headquartered in Bern, Switzerland (having moved from Brussels, Belgium in February 2019), WABCO employs 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. WABCO is a publicly traded company and is listed on the New York Stock Exchange as WABCO Holdings, Inc., with the stock symbol WBC.
On 28 March 2019, German auto parts maker ZF (Zahnradfabrik) Friedrichshafen announced an agreement to acquire Wabco for over $7 billion based on customary regulatory and shareholder approvals. The transaction is expected to be completed in Q1, 2020.
A March 29, 2019 announcement that WABCO was acquired by ZF Friedrichshafen for $7 billion has been misinterpreted.
| Date | Article | Author/Source |
|---|---|---|
| 28 March 2019 | Parts and Accessories Necessary for Safe Operation; Laydon Composites Ltd. Application for an Exemption | Federal Register: FMCSA (Larry W. Minor) |
| 31 January 2020 | United States v. ZF Friedrichshafen AG, et al.; Proposed Final Judgment and Competitive Impact Statement | Federal Register: DoJ (Daniel J. Monahan, Jr.) |