WABCO Enters Into New Multi-Year Agreement to Supply Industry-Leading Vacuum Pumps for Geely, One of China’s Largest Car Makers; Contract Further Enlarges WABCO’s Growth Prospects in China

BRUSSELS, Belgium, Aug. 10, 2016 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, today reported details of its new multi-year supply agreement with Geely, one of China’s largest automobile manufacturers and owner of Volvo passenger cars. Extending new business with this existing customer, WABCO will supply the vast majority of vacuum pumps for Geely cars and sport-utility vehicles in the Chinese market, starting in 2019.

WABCO will provide this original equipment manufacturer (OEM) with industry-leading compact vacuum pumps that feature modular, lightweight design and ultra-low power consumption for braking and non-braking functions on gasoline direct-injection engines. This innovative vacuum pump technology enables better fuel economy and reduced emissions. At the same time, to deliver differentiated service to Geely, WABCO’s manufacturing for this major new contract will continue to take place at its world-class factory in Qingdao, China.

In addition, Geely has recently granted WABCO China their “2016 Supplier Excellence” award. This top distinction recognizes WABCO’s superlative overall performance and added value, including WABCO’s outstanding support for Geely’s vacuum-pump volume expansion program.

“We are proud to partner with Geely and connect WABCO’s technology leadership to support their pursuit of automotive excellence,” said Sujie Yu, WABCO Vice President, Asia Pacific. “This major contract further enhances our long-term prospects in China, a growth market for passenger cars and sport-utility vehicles. This new business achievement also demonstrates increasing recognition by leading car makers for WABCO’s differentiation through innovation, high quality, cost effectiveness and localized product expertise.”

“Our multi-year agreement with Geely is yet another example of WABCO’s technology leadership in vacuum pumps as we continue to gain momentum with car makers across the globe, enabling them to improve fuel economy, produce cleaner, greener vehicles, and enhance driver satisfaction,” said Yu. “WABCO differentiates by continually setting industry standards for vacuum pumps that meet rising needs for high performance and ultra-low power consumption.”

With more than 50 years of experience in vacuum pump design and production, WABCO currently furnishes a global base of passenger car manufacturers.

WABCO China’s business in the car sector maintains strong development through vacuum pump and advanced air suspension technologies. At the same time, WABCO China continues its position of commercial vehicle market leadership, which includes anti-lock braking systems (ABS), electronic braking systems (EBS) and electronic stability control (ESC), among other vehicle safety and efficiency technologies. Local original equipment manufacturers view WABCO as the supplier of choice and value the company’s “design for China” strategy and unique ability to execute there through 4 world-class factories.

WABCO (NYSE:WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, drivers, cargo, and fleet operators through telematics, as well as advanced fleet management and mobile solutions. WABCO reported sales of $2.6 billion in 2015. Headquartered in Brussels, Belgium, WABCO has 12,000 employees in 39 countries. WABCO’s 2015 Annual Report is available at www.ar.wabco-auto.com. For more information, visit www.wabco-auto.com.

WABCO China media contact
Lleyton Li, +86 138 1684 9400, lil@prbright.com

WABCO Global media contact
Tobias Mueller, +49 89 470 277 112, wabco@klenkhoursch.de

WABCO investors and analysts contact
Christian Fife, +1 248 270 9290, christian.fife@wabco-auto.com

Source:WABCO Holdings Inc.