WABCO Vehicle Control Systems

WABCO is an American provider of electronic braking, stability, suspension and transmission automation systems for heavy duty commercial vehicles.[1]

WABCO Vehicle Control Systems
Public
ISINUS92927K1025 Edit this on Wikidata
IndustryComponent manufacture and supply for commercial vehicles
PredecessorWestinghouse Air Brake Company
Foundedin 1869 as Westinghouse Air Brake Company
FounderGeorge Westinghouse Jr.
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
Websitehttp://www.wabco-auto.com

Founded in the U.S. in 1869 as Westinghouse Air Brake Company, WABCO was acquired by American Standard in 1968 and spun off in 2007. Headquartered in Bern, Switzerland (having moved from Brussels, Belgium in February 2019)[2], 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.[3] WABCO is a publicly traded company and is listed on the New York Stock Exchange as WABCO Holdings, Inc., with the stock symbol WBC.[4]

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.[5]

ReferencesEdit

  1. ^ WABCO Holdings Press Release on www.wabco-auto.com
  2. ^ swissinfo.ch (15 February 2019). "Wabco car systems manufacturer moves HQ to Switzerland". SWI swissinfo.ch. Retrieved 1 August 2019.
  3. ^ "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 February 2014. Retrieved 13 February 2014.
  4. ^ "NYSE Listings Directory - WABCO Holdings Inc". New York Stock Exchange. Retrieved 13 November 2008.
  5. ^ Platt, Eric; Fontanella-Khan, James (28 March 2019). "German auto parts maker ZF buys Wabco for $7bn". Financial Times. Retrieved 26 May 2019.