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Press Release

2020-Jun-02

ZF Completes Sale of R.H. Sheppard to Bendix

Friedrichshafen, Germany. ZF Friedrichshafen AG (“ZF”) has successfully completed the sale of R.H. Sheppard Co., Inc. (“Sheppard”) to Bendix Commercial Vehicle Systems LLC (“Bendix”) for $149.5 million. The divestment follows ZF’s acquisition of WABCO on May 29, 2020.

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ZF Completes Sale of R.H. Sheppard to Bendix

Sheppard is an industry-leading supplier of steering technologies for commercial vehicles. Bendix is an indirect subsidiary of Knorr-Bremse AG, a leading global supplier of braking systems and other safety-critical rail and commercial vehicle systems.

The planned sale and divestment was previously announced on January 30, 2020, in connection with the Antitrust Division of the U.S. Department of Justice's review of the merger between WABCO Holdings Inc. (“WABCO”) and ZF, and pursuant to the settlement order approved by the U.S. District Court for the District of Columbia.

CONTACT

Andreas Veil

Head of Commercial and Financial Communication

+49 7541 77-7925

andreas.veil@zf.com

Thomas Wenzel

Director Global Corporate Communications

+49 7541 77-2543

thomas.wenzel@zf.com