WORKSHOP
ZF SNAPS UP ITS RIVAL WABCO / SEDIS BOUGHT BY MCB / VOLVO PENTA GETS NEW HEAD / MAGNA TYRE’S NEW RANGE
WORKSHOP
ZF says WABCO acquisition can help shape future ZF PROMISES THAT THE INTEGRATION OF WABCO WILL OFFER CUSTOMERS “A UNIQUE RANGE OF PRODUCTS AND SERVICES” ACQUISITIONS In one of the biggest commercial vehicles mergers in a decade, ZF Friedrichshafen AG (ZF) has completed the acquisition of commercial vehicle technology supplier WABCO. Under the terms of the deal, shares of the NYSE-listed commercial vehicles tech company have ceased trading and its new owner says it can now focus on expanding its commercial vehicle service portfolio and on
operating customer business. “The combination of these two successful enterprises will bring a new dimension of innovation and capability for commercial vehicle systems technology. Thanks to our perfectly complementary portfolios and competencies, we are able to offer unprecedented solutions and services for manufacturers and fleets globally. In this way, we are actively shaping the future of the changing transportation industry,” said Wolf-Henning Scheider,
AN UNPRECEDENTED SITUATION ZF’s CEO Wolf-Henning Scheider said the WABCO purchase will make his company stronger as the industry faces new challenges.
CEO, ZF Friedrichshafen AG. “This acquisition marks a major milestone in the history of our company. With it, we are consistently continuing the transformation in the powertrain and in the field of digitalisation.” WABCO is expected to operate as an independent division named Commercial Vehicle Control Systems. ZF said its new acquisition will continue to strengthen its existing service portfolio and put its customers first. The division will be headed by newly appointed Fredrik Staedtler. Staedtler brings significant CV experience, gained over the past decades working in the industry, most recently as head of ZF’s Commercial Vehicle Technology division, said ZF in a statement. ZF CEO Scheider added: “We are closing this acquisition in an unprecedented social and economic situation. The thoroughly prepared acquisition will make us even stronger for the future once we have overcome the immediate effects of the pandemic with regard to the Covid-19 pandemic and its impact.”
MCB COMPLETES MEA CHAIN PARTS
Mineral Circles Bearings (MCB) has secured a new distribution partnership with leading European chain manufacturer and industry firm SEDIS. The company said the collaboration allows it to distribute and offer SEDIS’s full range of products covering transmission, leaf, adapted, conveyor chains including wheels, sprockets, and disks in the Middle East and Africa market. “This alliance is a great advantage for us considering the burgeoning demand in the Industrial sector. SEDIS cemented itself as a trusted partner in providing robust solutions globally,” said Mohamad Alwan, the head of MCB’s Industrial Division. Given the wider market reach to support, this collaboration is expected to help local and regional business to maximise their business potential at scale, he added.
INSIDE THIS MONTH’S WORKSHOP: A SPECIAL LOOK AT EINRIDE’S AUTONMOUS AND ELECTRICAL DEVELOPMENT, BUYERS SURVEY, AND MORE!
24 JULY-AUGUST 2020
meconstructionnews.com
