12th
March 2009 - WABCO Announces
Multi-Year Strategic Agreement to Supply CNHTC, China's Largest
Manufacturer of Heavy Duty Trucks
WABCO, a global technology leader and
tier-one supplier to the commercial vehicle industry, today announced
the completion of a strategic partnership agreement to supply China
National Heavy Truck Corporation (CNHTC), the largest producer of heavy
duty trucks in China. WABCO's strategic agreement
with CNHTC extends to 2016 and is worth several hundred million U.S.
dollars in cumulative sales.
A supplier to CNHTC since 1997, WABCO
will continue to provide air management products, braking systems
including anti-lock braking, and transmission control products. Further
increasing their partnership, WABCO will be CNHTC's sole supplier of
automated manual transmission (AMT) systems through 2016. CNHTC is the
world's first original equipment manufacturer to adopt WABCO's highly
advanced modular AMT system in volume production.
"Over the past decade, WABCO has
transformed from a European export company into a global organization
that successfully adapts to the requirements of the Chinese market,"
said Cai Dong, CNHTC President. "WABCO's local
management team also has the ability to rapidly align sourcing and
manufacturing capabilities with market conditions in China,
further enhancing the flexibility, cost effectiveness and value that
WABCO offers CNHTC."
"We are proud to be chosen by
China's largest truck maker as their long term partner in a
highly competitive market," said
Jacques Esculier, WABCO Chief Executive Officer. "Partnering
with CNHTC confirms our strategy of pursuing technology leadership while
globalizing our capabilities in engineering, sourcing and manufacturing.
CNHTC also recognizes WABCO as a local manufacturer, focused on local
customer needs and powerfully connected to the Chinese market."
"Our long term agreement with CNHTC marks
another strategic achievement as we continue to combine WABCO's global
engineering capabilities with the nuanced knowledge and power of local
teams," said Leon Liu, WABCO President, Asia
Pacific. "CNHTC values our local sourcing and manufacturing
in China, and this agreement consolidates WABCO's
position in China as a global technology leader
with a strategic commitment to expand appropriate capabilities in
China for the long term benefit of local customers."
About WABCO
WABCO Vehicle Control Systems is a
leading supplier of safety and control systems for commercial vehicles.
For over 140 years, WABCO has pioneered breakthrough electronic,
mechanical and mechatronic technologies for braking, stability, and
transmission automation systems supplied to the world's leading
commercial truck, trailer, and bus manufacturers. With sales of
$2.6 billion
in 2008, WABCO is headquartered in Brussels, Belgium
Source: WABCO Press Release