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WABCO Signs $950 Million Long-Term Agreement with Global Manufacturer to Supply its Leading Braking, Advanced Driver Assistance Systems and Efficiency Technologies
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BRUSSELS, Belgium, December 20, 2018 – WABCO Holdings Inc. (NYSE: WBC), the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has signed a $950 million long-term agreement with one of the world's top manufacturers of commercial vehicles. Under the eight-year agreement, WABCO will equip two of the original equipment manufacturer's (OEM) brands with its leading braking, advanced driver assistance systems (ADAS) and efficiency technologies.
Representing a further industry endorsement of WABCO's global leadership in braking system platforms, this latest multi-year agreement confirms WABCO as the OEM's sole supplier for electronic braking systems (EBS) in Europe and anti-lock braking systems (ABS) in Brazil. WABCO will also supply conventional valves to support both braking systems. WABCO will further provide air-disc brakes (ADB), electronically controlled air suspension (ECAS), actuators, and its next generation, cost-optimized, lighter integrated pedal units (IPU). Additionally, WABCO will supply air compressors for the OEM's engine brand while supporting the expansion of the engine's availability in the U.S. and Brazil with local production and global engineering capabilities. During the course of the agreement, WABCO will also supply its next generation Optimized Power Reduction (OPR) single-piston compressor and its new clutch solution offering enhanced fuel efficiency.
As part of the wide-ranging agreement, the OEM is also confirmed as WABCO's lead customer for its next generation OnGuardACTIVETM Advanced Emergency Braking System (AEBS) solution with series production planned for 2019. Featuring a new radar sensor which offers the commercial vehicle industry's longest radar detection range, as well as the widest near-range field of view, WABCO's OnGuardACTIVE can now provide up to full autonomous emergency braking on moving and stationary vehicles from a highway speed up to 80 km per hour – even in poor visibility conditions. WABCO is the industry's original equipment manufacturer (OEM) independent leader for collision mitigation systems and ADAS, with more than 450,000 OnGuard safety systems sold world-wide.
As its full system supplier of EBS and ADAS, WABCO will additionally equip the OEM's new electric vehicles. WABCO is also closely collaborating with the OEM on its platooning program. WABCO and the OEM are additionally both contributing to the ENSEMBLE innovation consortium, co-funded by the European Union, which is seeking to develop and demonstrate multi-brand truck platooning in Europe.
"We are honored that this major global OEM continues to place its faith in WABCO to deliver pioneering innovations and high-quality standards which offer real differentiating value for its leading truck brands," said Nick Rens, WABCO President, EMEA. "This significant and wide-ranging business agreement powerfully demonstrates WABCO's pioneering global braking and ADAS leadership as well as our ability to serve the diverse advanced vehicle safety and efficiency requirements of leading global commercial vehicle manufacturers."
About WABCO
WABCO (NYSE: WBC) is the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles. Originating from the Westinghouse Air Brake Company founded nearly 150 years ago, WABCO is powerfully "Mobilizing Vehicle Intelligence" to support the increasingly autonomous, connected and electric future of the commercial vehicle industry. WABCO continues to pioneer innovations to address key technology milestones in autonomous mobility and apply its extensive expertise to integrate the complex control and fail-safe systems required to efficiently and safely govern vehicle dynamics at every stage of a vehicle's journey – on the highway, in the city and at the depot. Today, leading truck, bus and trailer brands worldwide rely on WABCO's differentiating technologies. Powered by its vision for accident-free driving and greener transportation solutions, WABCO is also at the forefront of advanced fleet management systems and digital services that contribute to commercial fleet efficiency. In 2017, WABCO reported sales of $3.3 billion and has nearly 15,000 employees in 40 countries. For more information, visit www.wabco-auto.com and, for WABCO's 2017 Annual Report, visit ar.wabco-auto.com.
WABCO global media contact
Nina Friedmann, +49 69 719 168 171,wabco@klenkhoursch.de
WABCO investors and analysts contact
Sean Deason, +1 248 270 9287,investorrelations@wabco-auto.com
WABCO Global
Nina Friedmann
Tel: +49-69 719 168 171
Email:wabco@klenkhoursch.de
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Collin Shaw
collin.shaw@wabco-auto.com