Press release from Marketwire
WABCO Concludes 100 Percent Acquisition of Transics International, an Industry Leader in Fleet Management Solutions
Tuesday, June 10, 2014
WABCO Concludes 100 Percent Acquisition of Transics International, an Industry Leader in Fleet Management Solutions07:00 EDT Tuesday, June 10, 2014
BRUSSELS, BELGIUM--(Marketwired - June 10, 2014) - WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies to improve the safety and efficiency of commercial vehicles, today announced that it has successfully acquired the remaining 3.16 percent of Transics International.
As announced on February 13, 2014, WABCO had acquired 96.84 percent of Transics International shares for a net consideration of EUR 95.8 million. WABCO subsequently made a public offer to acquire the remaining 3.16 percent of outstanding shares, consistent with Belgian takeover rules.
As a result of the successful takeover procedure completed recently, WABCO now owns 100 percent of the securities issued by Transics International NV. This means WABCO paid in net consideration a total amount of EUR 99.9 million for the 100 percent acquisition of Transics International.
"We are pleased to complete WABCO's acquisition of Transics International as planned," said Nick Rens, WABCO Executive Officer and Vice President, Trailer Systems, Aftermarket and Off-Highway. "We reiterate that the synergy of WABCO and Transics superbly aligns with a WABCO strategic objective to further grow business with fleets around the world as we expand our portfolio of innovative solutions tailored to the specific needs of our global customer base."
As part of WABCO, Transics International will continue to operate under its own brand. Based in Ypres, Belgium, Transics International also has offices in France, Germany, Ireland, Italy, the Netherlands and Spain, and it manages a sales network across Europe.
WABCO (NYSE:WBC) is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world's leading commercial truck, bus and trailer manufacturers. With sales of $2.7 billion in 2013, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com.
This document contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "strategies," "prospects," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, our ability to successfully integrate any acquired businesses or our acquired businesses not performing as planned and the other risks and uncertainties described in the "Risk Factors" section and the "Information Concerning Forward Looking Statements" section of WABCO's Form 10-K, as well as in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements" section of WABCO's Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.
FOR FURTHER INFORMATION PLEASE CONTACT:
WABCO media contact
+49 69 7191 6834
Transics International media contact
+32 57 40 98 20
WABCO investors and analysts contact
+1 732 369 7465