BRUSSELS, Belgium, September 19, 2017 – WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has completed the acquisition of RH Sheppard Co., Inc. a key supplier of industry-leading steering technologies for commercial vehicles. This follows the successful conclusion of the required regulatory review.
Sheppard currently offers a suite of power-steering gears that has set the industry standard for heavy-duty commercial and specialty vehicles. Employing more than 900 persons at its U.S. facilities in Hanover, Pennsylvania, and Wytheville, Virginia, Sheppard also provides precision engineered engine pumps and state-of-the-art remanufacturing services. In addition, the company is vertically integrated with its own manufacturing and advanced foundry capabilities. Moving forward, Sheppard will be fully integrated into WABCO’s North America Business Unit, with its technology becoming part of WABCO’s extensive Vehicle Dynamics and Controls Business.
“We are very excited to welcome Sheppard employees to the WABCO family,” said Jon Morrison, WABCO President, Americas. “It’s the dedication and ingenuity of all its team members that have enabled Sheppard to emerge as a leader of world-class steering technologies over the past 80 years. As we grow together and combine WABCO’s and Sheppard’s industry-leading technologies, we will provide differentiating solutions for braking, stability and steering control to commercial vehicle manufacturers and fleet operators across the globe.”
“We are greatly looking forward to teaming up with Sheppard and capitalizing on its international presence,” said Jorge Solis, WABCO President, Truck, Bus and Car Original Equipment Manufacturers Division, which includes WABCO’s Vehicle Dynamics and Controls Business Unit. “The powerful combination of our breakthrough technologies, including active steering, active braking, electronic stability control and other advanced driver assistance systems, is a key milestone in our strategy to enable the commercial vehicle industry’s vision of autonomous driving worldwide.”
Full dynamic control of commercial vehicles – lateral and longitudinal – is necessary to progressively achieve the industry’s vision of autonomous driving. The acquisition of Sheppard is a key step toward providing lateral control through active steering, which is a cornerstone that complements WABCO’s ability to control longitudinal movement through active braking, stability and suspension control systems.
In another recent development, WABCO also announced that it had signed a long-term cooperation agreement with Nexteer Automotive, a global leader in intuitive motion control, headquartered in Auburn Hills, Michigan, U.S.A.
WABCO and Nexteer will collaborate to develop and supply active steering systems for medium- and heavy-duty commercial vehicles using Nexteer MagnaSteer™ Actuation Technology, a breakthrough product in advanced steering assistance. Both companies will integrate MagnaSteer’s proven technology with Sheppard’s suite of power steering gears.
“I’m very proud of what the Sheppard team has accomplished over the years,” said Oliver Hoar, President and Chief Executive Officer, Sheppard. “Today, we are recognized in our industry for unrivalled engineering and manufacturing prowess. We are thrilled to now continue our success story as part of WABCO, a global technology leader and tier 1 supplier to the commercial vehicle industry.”
WABCO will showcase its most advanced driver assistance systems, including active steering and collision avoidance technologies to enhance the safety of commercial vehicles, at the inaugural North American Commercial Vehicle Show (NACV). The prominent industry event will take place from September 25-28, 2017 in Atlanta, Georgia, U.S.A. WABCO will host a press conference at NACV for accredited media on Tuesday, September 26 from 10:00 to 11:00 a.m. EST at the Georgia World Congress Center, Room B310. The press conference will be webcast live at www.wabco-auto.com.
WABCO (NYSE: WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, cargo, drivers, business partners and fleet operators through advanced fleet management systems and mobile solutions. WABCO reported sales of $2.8 billion in 2016. Headquartered in Brussels, Belgium, WABCO has 13,000 employees in 40 countries. For more information, visit www.wabco-auto.com.
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RH Sheppard Co., Inc. was founded in 1937 and builds on a rich history of innovative design and manufacturing excellence. The company was acquired in September 2017 by WABCO (NYSE: WBC), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. RH Sheppard Co., Inc. is headquartered in Hanover, Pennsylvania, U.S.A., and has a dedicated workforce of more than 900 employees who supply components for the trucking and transportation industry worldwide. The company designs and manufactures commercial vehicle steering systems, engine pumps and related products and services at the highest quality standards and supports customers with personal service and flexibility. For more information, visit www.rhsheppard.com.