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UPDATE: Wabco Confirms Sale Talks with ZF
German powertrain and electronics supplier ZF Friedrichshafen AG has begun talks about buying American rival Wabco Holdings Inc.
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German powertrain and electronics supplier ZF Friedrichshafen AG has begun talks about buying American rival Wabco Holdings Inc.
Wabco confirms it in engaged in preliminary discussions with ZF, which says only that “there is no decision” about an acquisition.
Brussels-based Wabco is an American company that supplies advanced braking, steering and stability control systems for commercial trucks. The company’s executive headquarters are in Auburn Hills, Mich.
Last year WABCO’s sales climbed 14% to a record $3.8 billion, and operating income jumped 18% to $513 million. The company has a market value of about $6.2 billion.
ZF spent $13.5 billion in 2014 to buy TRW Automotive Holdings Corp. That deal sharply expanded ZF’s capabilities in advanced safety systems, many of which compete directly with those being marketed by Wabco.
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