WABCO Extends Long-Term Supply Agreement for Automated Manual Transmission Control Technology with Leading Global Original Equipment Manufacturer; Contract Expected to Run Until End of 2027
BRUSSELS, Belgium, June 21, 2018 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has extended its long-term agreement to supply automated manual transmission (AMT) control technology for a leading global original equipment manufacturer, which is headquartered in Europe.
Under this extended agreement which is valued at over $500 million, WABCO will continue to supply this global manufacturer with its current generation of AMT control technology. WABCO will also develop and introduce the next generation AMT control unit which will enable the latest technical advancements to be integrated into this customer’s global truck and bus series production. The contract is expected to continue until December 2027.
With over four million systems sold, WABCO is the global market leader for AMT control solutions. By optimally automating shifting gears and releasing the driver from the repetition and exertion of manual gear changing operations, WABCO’s AMT solutions help to improve vehicle safety and comfort for commercial vehicle drivers. By removing the distraction of gear changing in diverse driving conditions and environments, the system enables drivers to fully focus attention on the road. In addition, it eliminates any performance and efficiency gaps between highly skilled and less experienced drivers.
WABCO’s innovative AMT control technology provides differentiating benefits for fleets. Enabling optimized gear shifting, it can help achieve significant cost savings through reduced fuel consumption and mechanical wear. Additionally, sensors in the AMT control unit provide advanced intelligence which helps predict a vehicle’s maintenance requirements, minimizing its downtime and related operating costs.
“We are delighted to receive a significant AMT controls contract extension with this industry-leading OEM which demonstrates that our customers trust and rely on WABCO’s leading technology,” said Jorge Solis, WABCO President, Truck, Bus and Car Original Equipment Manufacturers. “Confirming our global market leadership, this important agreement will help drive WABCO’s continued outperformance as our AMT controls market penetration increases.”
First to market in 1986 with automated manual transmission control technology for commercial vehicles, WABCO is the global market leader for AMT systems. WABCO’s world-class engineers and global supply chain are in close proximity to major vehicle and transmission makers worldwide, providing high levels of system integration and localization. WABCO’s AMT technology also provides original equipment manufacturers value through reduced component weight, more compact design and simplified assembly processes, resulting in lower installation and manufacturing costs.
WABCO (NYSE:WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Originating from the Westinghouse Air Brake Company founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations to enable autonomous driving in the commercial vehicle industry. Today, leading truck, bus and trailer brands worldwide rely on WABCO’s differentiating technologies, including advanced driver assistance, braking, steering and stability control systems. Powered by its vision for accident-free driving and greener transportation solutions, WABCO is also at the forefront of advanced fleet management systems 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.
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