N@N

WABCO Announces Multi-Year Development and Supply Agreement With Chery, One of China's Leading Manufacturers of Passenger Cars

^{Published on 2009-11-24 04:09:35 - Market Wire}
 

BRUSSELS, BELGIUM--(Marketwire - November 24, 2009) - WABCO Holdings Inc. (NYSE: [ WBC ]) [[ www.wabco-auto.com ]], a global technology leader and tier-one supplier to the commercial vehicle industry, today announced that WABCO and Chery Automobile Company Ltd. have completed an agreement for product development and the long-term supply of vacuum pumps for automotive braking applications for diesel and gasoline direct injection engines. Chery is one of China's leading manufacturers of passenger cars and China's top ranked exporter of cars serving more than 70 countries.

WABCO vacuum pumps for automotive braking systems utilize an ultra-low power consumption design that helps improve engine efficiency. Using modular design concepts, WABCO vacuum pumps feature a range of standard components that increase efficiency in manufacturing. WABCO's highly durable vacuum pumps also boost performance in braking applications, require reduced oil flow rates, and significantly lower weight due to fewer parts. Vacuum pumps for all Chery engines will be produced locally at WABCO's world-class manufacturing facility located in Qingdao, China.

"We are proud to partner with Chery as they continue to build a successful world brand of passenger cars through innovation and adoption of advanced automotive technologies," said Leon Liu, WABCO President, Asia Pacific. "Chery is recognized as one of the most valuable Chinese brands in domestic and overseas car markets alike, powered by their culture of world-class quality and pursuit of world-leading technologies."

"This agreement with Chery marks a major achievement for WABCO in the Chinese automotive industry and further grows our position in emerging markets through deep connectivity with customers, powered by our local people and capabilities," said Mike Thompson, WABCO Vice President, Car Systems. "We are passionate about continuing to grow our vacuum pump business to help customers globally improve vehicle efficiency and meet increasingly stronger environmental requirements."

About WABCO

Vehicle Control Systems (NYSE: [ WBC ]) 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. For more information, visit [ www.wabco-auto.com ]