Accelerating the localization of WABCO’s acquisition of all remaining shares in its Jinan joint venture

Recently, the world's leading commercial vehicle technology leader and first-tier supplier WABCO Automotive Control Systems recently announced that it has acquired Shandong Shandong Mingshui Auto Parts Co., Ltd. for Shandong Weiming Automotive Products Co., Ltd. (SWAP) 30 % of the equity, so far, Shandong Weiming Automotive Products Co., Ltd. has become a wholly owned subsidiary of WABCO. The equity change was completed on August 30, 2013 and was approved by the local authorities.

As previously announced, in 1996, WABCO and Shandong Mingshui Auto Parts Co., Ltd. jointly established Shandong Weiming Automotive Products Co., Ltd. With Lean Six Sigma production, Shandong Weiming Automotive Products Co., Ltd. has gradually developed into a leading supplier of commercial trucks , trailers and passenger car manufacturers in China, providing them with technology and control systems. At the same time, more than half of the products produced by this factory are exported. all around the world.

WABCO's 100% stake in Shandong Weiming Automotive Products Co., Ltd. means that it has become WABCO's third wholly-owned subsidiary in China. In addition, WABCO owns and operates a Six Sigma production facility in Jinan and Qingdao respectively. WABCO's fourth plant in China is a joint venture plant with Fuwa Machinery Group Co., Ltd. (FUWA), the world’s largest manufacturer of commercial trailer axles, located in Taishan.

Dr. Liu Liang, Senior Vice President of WABCO Group and President of Asia Pacific, stated that “the further investment in the Jinan Plant is an important step for WABCO to expand its market in China, and it is also playing a part in the localization development strategy formulated by WABCO. A key role. WABCO’s four advanced plants in China embody the determination of WABCO to participate in the local commercial vehicle market, while further strengthening our global supply chain network to ensure that WABCO’s continued presence in China and globally. Customers provide high-quality, cost-effective products and services."

WABCO China is headquartered in Shanghai and has more than 1,500 employees, including local R&D engineers. In addition to closely affiliating with WABCO's global engineering R&D network, WABCO has also set up a new product R&D center in Shanghai to further enhance WABCO's differentiated advantages by strengthening local application capabilities.

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