ZF says it is finalising the integration of WABCO into its company after the acquisition of the American commercial vehicle technology manufacturer and brake specialist.
The two ZF commercial vehicle divisions as of next year, will formally act as a unit; the combined Commercial Vehicle Solutions Division.
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The two divisions are already operating in the market and expect a significant sales increase for 2021.
“Soon after the acquisition of Wabco, customers recognised us as a systems supplier for commercial vehicle technology whose product range offers them comprehensive solutions and advantages,” said ZF CEO, Wolf-Henning Scheider. “With the technologies combined in systems, we were able to secure a significant order volume that extends far into the future and encompasses both autonomous driving as well as fleet management and electromobility.”
The supplier was outlining its thoughts on the Wabco acquisition at its half-year financial presentation from its headquarters on the shores of Lake Constanz in Southern Germany.
Financial results from Friedrichshafen show sales in the first half of 2021 rose significantly to EUR19.3bn (US$23bn) compared with EUR13.5bn in the first six months of Covid pandemic-hit 2020, a rise of 43%.
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By GlobalDataAdjusted EBIT was EUR1bn compared with a loss of EUR177m in H1, 2020.
“This is a very important step for our company – we feel the countdown,” added Scheider. “Our goal is to grow fast as a whole in comparison to the market. The pre-requisites are very good because due to the combination of Wabco and ZF, we have a very broad portfolio.
“Not only with regard to trucks and buses, but also to truck trailers and also with regard to digitalised fleet management. Our customers value that very much. Already today, both divisions are working together quite closely. Since the acquisition, we have been able to gain new and subsequent orders, because they are including new products, as in electric drives, brakes, vehicle electronics.
“Two years [ago], neither ZF nor Wabco would have managed to do these steps on their own. In China for example, we have introduced our emergency braking system for commercial vehicles. For the first time, the system can detect a wide range of moving and standing objects, including vehicles and pedestrians and if necessary, it can respond precisely so it can brake.
“We can combine ZF radar and camera technology with Wabco’s braking technology to one overall system. [It] is going into production at two Chinese customers this year and this has also become a legal requirement in China.
“Within the next four years, on all Continents, we will see trucks and buses with ZF electric drives.”
https://press.zf.com/press/en/releases/release_28546.html
