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The European Commission approved under the EU Merger Regulation the proposed acquisition of Wabco Holdings by ZF Friedrichshafen without conditions. The decision was made on 23 January 2020.
ZF opened its first US plant for automatic passenger car transmissions in Gray Court, South Carolina, making the 8HP and 9HP transmissions with about 1.2 million units planned annually and a total investment of about $600 million.
WABCO shareholders approved ZF Friedrichshafen's proposed all-cash acquisition at $136.50 per share, with 68.44% of shares voting in favour. Closing is expected in early 2020, subject to regulatory approvals.
ZF Friedrichshafen opened a shock absorber production line at its regional headquarters in Chakan, Pune, with an annual capacity of 0.7 million units, planned to rise to 3 million units within 3 to 4 years.
ZF Friedrichshafen started a new shock absorber production line at its regional headquarters in Chakan, Pune, India, with annual capacity of 0.7 million units, planned to rise to three million units within three to four years.
