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MarketScreener Homepage  >  Equities  >  Nyse  >  WABCO Holdings Inc.    WBC

WABCO HOLDINGS INC.

(WBC)
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WABCO : Announces Strategic Agreement with Tamware to Develop Integrated Door Systems for the Indian Commercial Vehicle Industry

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10/16/2019 | 08:03am EDT

CHENNAI, India, October 16, 2019 - WABCO India Limited, a leading supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, has signed a development agreement with Oy Tamware Ab, for the design and development of bus doors for the domestic commercial vehicle market.

This agreement positions WABCO India to exclusively produce door systems, both pneumatic and electric, designed by Tamware for the Indian market, in combination with its own door control system. For Indian customers, this will open access to a fully integrated door solution incorporating safety features for bus variants in compliance with the latest legislative requirements.

WABCO and Tamware bring complementary competencies to this strategic cooperation agreement. While Tamware has decades of expertise in providing services related to the design, development, manufacturing and supply of public transportation vehicle door systems, WABCO is a leader in commercial vehicle control systems including door control systems for buses and has over 300,000 systems deployed primarily in Europe, to date.

'WABCO is in lockstep with the progress toward enhancing the safety and efficiency of vehicles in the Indian commercial vehicle industry. As a technology leader, our commitment to safety is paramount as we continue to invest in advanced solutions that the market demands,' said Mr. P. Kanniappan, Managing Director, WABCO India. 'This furthers the advancement of the electrification roadmap in the region, given the significant impetus for electric vehicles promoted by the Government of India under the ambit of FAME - II.'

Under the scope of this agreement, pneumatic or electric doors designed and developed by Tamware, will be manufactured in the Ambattur production facility of WABCO India. Inswing/outswing and sliding doors are especially well-suited to city buses, as the doors open quickly, thus enabling passengers to enter and exit the vehicle rapidly. Additionally, these doors will provide robust sealing, helping to reduce noise and vibration, while improving the efficiency of the air conditioning systems installed in the buses.

'At Tamware, we are incredibly proud to partner with WABCO in India. This close collaboration between our companies will help us deliver superior, innovative solutions for bus applications, both electric and non-electric, in the region. These solutions also reinforce WABCO's global strategy of mobilizing vehicle intelligence,' said Mr. Jussi Hilden , CEO, Tamware.

The agreement will enable Tamware to expand its presence in the domestic commercial vehicle industry by utilizing WABCO's access, domain expertise and customer relationships developed in India.

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 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.

About WABCO India:

WABCO India Limited is a leading supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles in India. Powered by its vision for accident-free driving and greener transportation solutions, WABCO India excels in pioneering breakthrough innovations that bring industry-leading solutions to the commercial vehicle industry in India and worldwide. The company is a world-class manufacturer and local market leader in advanced braking systems, conventional braking products and related air assisted technologies and systems. WABCO India operates five manufacturing facilities across India, an advanced technology development center, a vehicle testing facility and a nation-wide aftermarket distribution and services network. Headquartered in Chennai, WABCO India is committed to the long-term success of its customers by leveraging WABCO's powerful global technology portfolio. WABCO India reported sales of Rs. 2854 crores in FY 2018-19. For more information, visit www.wabco-auto.com/en/wabcoindia/home.

WABCO India Media Contact

Sunitha Rajagopalan, +91 87545 79512 , sunitha.rajagopalan@wabco-auto.com

Bhargav TS , +91 98848 83350 , bhargav.ts@adfactorspr.com

WABCO Global Media Contact

Nina Friedmann, +49 69 719 168 171, wabco@klenkhoursch.de


Disclaimer

WABCO Holdings Inc. published this content on 16 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2019 12:02:01 UTC

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Sales 2020 2 893 M
EBIT 2020 296 M
Net income 2020 284 M
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P/E ratio 2020 20,8x
P/E ratio 2021 18,7x
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