Wabco Holdings Inc, the global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, has completed the $250 million transaction to purchase Meritor Inc’s stake in the Merito Wabco joint venture and, thereby, take full ownership of the enterprise. With the completion of the transaction, Wabco will now fully integrate the former Meritor Wabco operations into its Wabco North America Business Unit.
“Taking full control of the Meritor Wabco joint venture business is a major milestone in expanding our operations in North America,” said Jon Morrison, Wabco President, Americas. ”We are very much looking forward to welcoming team members from the joint venture into the global and dynamic Wabco family.”
Morrison added, “With this consolidation of its business organisation and broader access to market in North America, Wabco will further strengthen its connectivity to commercial vehicle manufacturers and fleet operators through more simplified and direct channels. Operating fully under the Wabco brand, the local business will become even more agile, efficient and customer-focused.”
The former joint venture employs approximately 200 persons and had sales of $300 million in fiscal year 2016. It currently sells and distributes a range of Wabco’s leading safety and efficiency technologies for commercial vehicles in North America.
The agreement to take full control of the joint-venture business will enable Wabco to offer its consolidated portfolio of products and systems, including its industry-leading wheel-end solutions, air disc brakes, autonomous braking, electronic stability and active steering control systems, alongside advanced driver assistance systems (ADAS) and a full range of aerodynamic, air management and transmission automation control products in North America.