Wabco contracts to provide more than $530 million
Wabco Holdings Inc., which makes safety and control systems for commercial vehicles, said Wednesday the contracts it received during the past five quarters will provide it with more than $530 million in new business between 2010 and 2014.
The Brussels-based company said the new business includes contracts for compressors, valves and brake and suspension systems.
Wabco posted $2.6 billion in sales in 2008.
Shares of Wabco closed Tuesday at $16.56. The stock has lost nearly 70 percent of its value off a 52-week high of $54.93 reached in June due to weakness in the commercial vehicle industry.
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