Press release from Marketwire
WABCO Wins $548 Million in New Business in Past Four Quarters; Confirms Sales Growth Rate Expected to Outperform Market Growth Through 2017
Wednesday, April 17, 2013
WABCO Wins $548 Million in New Business in Past Four Quarters; Confirms Sales Growth Rate Expected to Outperform Market Growth Through 201707:00 EDT Wednesday, April 17, 2013
BRUSSELS, BELGIUM--(Marketwired - April 17, 2013) - WABCO Holdings Inc. (NYSE:WBC), (www.wabco-auto.com) a global technology leader and tier-one supplier to the commercial vehicle industry, today announced that from Q2 2012 to Q1 2013 the company has entered into contracts with customers globally totaling $548 million of expected cumulative incremental business from 2013 through 2017.
These contracts represent new incremental business for the five-year period, separate from replacement and renewal of existing contracts. It comprises orders for WABCO technologies and products that improve vehicle safety and efficiency, mostly in braking systems, air management and vehicle dynamics systems on commercial vehicles.
This new business is a significant driver of WABCO's ability to generate sales growth beyond expansion of the global market for new trucks and buses. The economic environment permitting, WABCO expects its sales growth from 2013 through 2017 will outperform market growth of global truck and bus production by a compound annual growth rate (CAGR) of 8 to 10 percent.
"In the past four quarters, we have signed contracts that increase sales by $548 million through 2017 and 45 percent of this new business is anchored in emerging markets such as China, India and Brazil, reflecting higher demand for WABCO content per vehicle over the next five years," said Jacques Esculier, WABCO Chairman and Chief Executive Officer. "As we have been saying for quite some time, WABCO expects to continue year after year to outperform the global market's evolution for new commercial vehicles, particularly in Asia."
WABCO (NYSE:WBC) is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Founded over 140 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 $2.5 billion in 2012, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com.
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