BRUSSELS, BELGIUM and HANOVER, GERMANY--(Marketwire - Sept. 19, 2012) - WABCO Holdings Inc. (NYSE:WBC), (www.wabco-auto.com) a global technology leader and tier-one supplier to the commercial vehicle industry, has entered into a new agreement with GAZ Group, Russia's leading manufacturer of commercial vehicles. The contract is for delivery of anti-lock braking systems (ABS) for heavy-duty trucks and buses, and for electronic tire pressure monitoring systems for buses.
WABCO will supply ABS for series production of Ural trucks and GAZ Group's whole line of buses. ABS prevents locking of a vehicle's wheels when road adherence is not sufficient to transmit braking forces, thus increasing vehicle safety.
WABCO will also supply IVTM™, its innovative integrated system for tire pressure monitoring, for series production of low-floor LIAZ buses for Moscow's public bus fleet. The IVTM system provides drivers with real-time information and helps to maintain optimal tire pressure, extending tire life up to 20 percent and increasing fuel economy. The system improves vehicle safety because correct tire pressure enhances steerability and reduces braking distance.
"For our company, the safety of drivers and passengers is top priority during development and production of vehicles," said Bo Andersson, GAZ Group President/CEO. "We are satisfied to expand our relationship with WABCO because of our principle to source from suppliers that equip our vehicles with the most modern safety systems."
"This important new contract with GAZ Group further demonstrates WABCO's technology leadership, and we are passionate about the growing demand for WABCO anti-lock braking systems in world markets," said Jean-Christophe Figueroa, WABCO Vice President, Vehicle Control Systems. "ABS and IVTM exemplify WABCO's passion for innovation as we continue to advance commercial vehicle safety, efficiency and environmental friendliness, and to improve driver effectiveness."
This new contract between GAZ Group and WABCO continues their partnership that started in 2005 for supply of ABS on all GAZ Group buses. This partnership is now expanded to add the supply of ABS for heavy-duty trucks while continuing to furnish ABS for buses. The new contract also adds supply of IVTM for GAZ Group buses.
About GAZ Group
GAZ Group (www.gazgroup.ru) is Russia's largest manufacturer of commercial vehicles. The Company produces light- and medium-duty commercial vehicles, heavy-duty trucks, buses, cars, powertrain and automotive components. GAZ Group is the leader in the commercial vehicles market in Russia with about 50% in the LCV segment, 58% in the medium-duty trucks segment, 42% in all-wheel-drive heavy-duty trucks segment, and about 65% in bus segment (data as of 2011). The revenue of GAZ Group in 2011 was RUR 132.4 billion; EBITDA was RUR 14 billion; and net profit was RUR 8.5 billion. The controlling shareholder of the Company is Russian Machines Corporation, part of Basic Element business group. The headquarters of GAZ Group is located in Nizhny Novgorod.
WABCO (NYSE:WBC) is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Founded over 140 years ago, WABCO continues to pioneer breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world's leading commercial truck, bus and trailer manufacturers. With sales of $2.8 billion in 2011, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com.