Wednesday, WABCO Holdings Inc. (WBC), a tier-one supplier to the commercial vehicle industry, stated that it has won $530 million worth contracts from customers worldwide during 2008 and first quarter of 2009 and is expected to be realized in cumulative increments starting from 2010 through 2014.
The Piscataway, New Jersey-based company said that incremental business during this five-year period includes customer contracts for its new generation of single piston NG22MAX Air Disc Brake, featuring the industry's most effective weight-to-performance ratio for heavy duty trucks.
Wabco also indicated that it has received incremental orders for electronic braking systems, new generation anti-lock braking systems, electronically controlled air suspension systems, compressors, valves and brake products.
Jacques Esculier, Wabco CEO said, "Looking ahead, Wabco's growth will continue to be powered by an increasing average content per vehicle for our systems and products in every region of the world. The suite of 14 new technologies and innovative systems that we introduced in 2008 will also continue to provide new opportunities for incremental revenues as we move through 2009 and beyond."
Wabco is currently trading at $16.81, up $0.25 or 1.51%, on a volume of 220,028 shares on the NYSE.
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