Press release from Marketwire
WABCO Wins $1 Billion in New Business in Past Four Quarters, Including $620 Million Through 2018; Confirms Sales Growth Rate Is Expected Long Term to Outperform Market Growth
Wednesday, April 16, 2014
WABCO Wins $1 Billion in New Business in Past Four Quarters, Including $620 Million Through 2018; Confirms Sales Growth Rate Is Expected Long Term to Outperform Market Growth07:00 EDT Wednesday, April 16, 2014
BRUSSELS, BELGIUM--(Marketwired - April 16, 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 from Q2 2013 to Q1 2014 the company has entered into contracts with customers globally totaling $1 billion of expected cumulative incremental business, including $620 million from 2014 through 2018, up from $548 million reported a year ago for the period from 2013 through 2017.
These contracts represent new incremental business, 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 significantly drives WABCO's ongoing ability to generate sales growth beyond expansion of the global market for new trucks and buses," said Jacques Esculier, WABCO Chairman and Chief Executive Officer. "Economic conditions permitting, WABCO expects that its sales growth will continue to outperform market growth of truck and bus production by a compound annual growth rate of 8 to 10 percent through 2018 and beyond."
"WABCO's new contracts increase sales by $1 billion, including $620 million through 2018, reflecting a significant contract to supply braking systems globally at a major multinational commercial vehicle manufacturer, market share growth and higher demand for WABCO content per vehicle, with approximately 40 percent of this new business anchored in emerging markets such as China, Russia, Brazil, Turkey and India," said Esculier. "As we repeatedly say, WABCO expects to continue long term to outperform the global market's evolution for new commercial vehicles, particularly in emerging economies."
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.
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