Global technology leader and first-tier supplier WABCO Holdings Inc. (NYSE: WBC) of the commercial vehicle industry announced today that the company and China's largest heavy truck manufacturer, China Heavy-Duty Truck Group Co., Ltd. (Abbreviation: China CNHTC signed a strategic supply agreement. The strategic agreement between WABCO and China National Heavy Duty Truck expands to 2016, and cumulative sales will reach several hundred million US dollars.
WABCO became a supplier to China National Heavy Duty Truck in 1997. It will continue to supply air management products, anti-lock brakes and other braking systems and transmission control systems. The agreement further enhances the cooperation between the two parties. Before 2016, WABCO will be the exclusive supplier of China National Heavy Duty Truck Automatic Transmission (AMT) system. Sinotruk is the first OEM in the world to use WABCO's advanced modular AMT system in batches.
Cai Dong, President of China National Heavy Duty Truck Co., Ltd. said: "For the past ten years, WABCO has transformed itself from a European export company into a global company that has successfully adapted to the needs of the Chinese market. WABCO's local management team has the ability to quickly acquire purchasing and manufacturing capabilities. Combine with the Chinese market to further improve the flexibility, cost efficiency and value that WABCO provides to China National Heavy Duty Trucks."
Says WACCO CEO Jacques Esculier: “We are honored to be selected as the long-term partner in this highly competitive market by China’s largest truck manufacturerâ€. The cooperation with Sinotruk also confirmed our strategy of pursuing the technological leadership while globalizing our engineering, procurement and manufacturing capabilities. China National Heavy Duty Trucks also regards WABCO as a local manufacturer that focuses on the needs of local customers and is in close contact with the Chinese market.
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