WABCO to Acquire Trucking Component Manufacturer, RH Sheppard
WABCO Holdings Inc. (NYSE: WBC), a leading supplier in commercial vehicle systems, has signed an agreement to acquire privately held RH Sheppard Co., Inc., a key supplier of commercial vehicle technologies, including vehicle steering capabilities, headquartered in Hanover, Pennsylvania, U.S.A.
WABCO’s purchase price is $145 million, subject to customary adjustments. Sheppard had sales of $130 million in 2016.
The acquisition of Sheppard is key, WABCO notes, for providing lateral control through active steering, which is vital for WABCO’s vision of autonomous driving.
Sheppard currently offers a suite of power-steering gears that has set the industry standard for heavy-duty commercial and specialty vehicles. Sheppard additionally provides engine pumps and re-manufacturing services.
“This acquisition represents another key milestone as WABCO advances toward enabling self-driving commercial vehicles,” said Jacques Esculier, WABCO’s Chairman and Chief Executive Officer.
Sheppard already manufactures and sells products through a joint venture in China and will use WABCO’s global network to reach into other regions.
Category: General Update, News
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