WABCO Buys Remaining 51% Stake In South African Partnership - Quick Facts

(RTTNews) - WABCO Holdings Inc. (WBC), a supplier of technologies and services for commercial vehicles, announced Monday that it has acquired the remaining 51% interest of its South African partnership with Sturrock and Robson Industries, Pty Ltd. Following the close of the transaction, on December 1, WABCO will create a wholly-owned WABCO business - WABCO South Africa.

WABCO has operated in South Africa through a formal partnership with Sturrock and Robson since 1995.

WABCO South Africa has its head office as well as a distribution, assembly and vehicle testing facility in Germiston, near Johannesburg. The organization will be integrated into WABCO's Trailer Systems, Off-Highway and Aftermarket Division.

Its management team, led by South African Team Leader, Enoch Silcock remains unchanged. A total of 46 new staff members will join WABCO as part of the transition.

Nick Rens, President Trailer, Aftermarket & Off Highway Division at WABCO, said, "WABCO's customers in South Africa and neighbouring countries already include the region's top five trailer manufacturers, a strong aftermarket network and a wide range of commercial vehicle OEMs. ….. The transition from a partnership to a wholly-owned operation in South Africa underpins our strategic plan to consolidate WABCO's presence across the African continent and leverage the many opportunities in those markets."