WABCO Signs $180 Million Agreement with Global Manufacturer to Supply Power Steering Gears
BRUSSELS, Belgium, March 26, 2019 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE: WBC) ( www.wabco-auto.com ), 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 R. H. Sheppard, its subsidiary that develops and manufactures steering systems for commercial vehicles has signed a $180 million long-term extension agreement with one of the world’s leading original equipment manufacturers (OEM) to supply power steering gears for its truck brands in the U.S.
This latest agreement further represents an industry endorsement of R. H. Sheppard‘s world-class commercial vehicle steering capabilities and builds on its long standing partnerships with the OEM. Additionally, R. H. Sheppard is well-placed to provide the OEM with a range of steering solutions. Under the agreement, it will furnish the OEM with its leading M-Series and D-Series power steering gears, covering a broad range of Class 5 to 8 medium and heavy-duty trucks for two of the OEM‘s leading brands. The OEM is one of the largest truck manufacturers in North America and has a growing presence in overseas markets.
R. H. Sheppard‘s steering solutions provide a number of differentiating benefits for all OEMs, as confirmed by a supplier award from this leading global manufacturer. Its vertical integration of the supply chain means full control of the manufacturing and logistics process, thus ensuring parts availability and just-in-time delivery for OEMs. Additionally, fleets benefit from the proven quality and long product life of these steering gears as well as the ease of on-truck serviceability, which optimizes vehicle uptime.
“As a long-standing and trusted strategic partner of this global manufacturer, we are delighted to now include hydraulic power steering gears to the advanced technology portfolio that we already provide to them,” said Jon Morrison, WABCO President, Americas.
About WABCOWABCO (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 2018, WABCO reported sales of over $3.8 billion and has more than 16,000 employees in 40 countries. For more information, visit www.wabco-auto.com.
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