BRUSSELS, BELGIUM--(Marketwired - Sep 23, 2015) - WABCO Holdings Inc. (WBC), a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles, today announced proposals to cease manufacturing operations at two production facilities in Western Europe to preserve the company's global competitiveness for certain mechanical products.
Today, WABCO presented proposals, in accordance with local labor laws and practices, to cease manufacturing at its facilities in Meppel, the Netherlands, and Claye-Souilly, France. These proposals would result in a total reduction of workforce of approximately 320 positions. Both of these factories make conventional mechanical components. Pending the outcome of the formal processes, production could cease at the Meppel facility by the second half of 2016, and at the Claye-Souilly plant in the second half of 2017, with production being transferred to other facilities within WABCO's globally integrated supply chain.
"Alongside harnessing the substantive benefits of globalization, WABCO continues to take necessary steps to maintain a competitive cost structure, particularly for mechanical products," said Jacques Esculier, WABCO Chairman and Chief Executive Officer. "A further enabler of WABCO's differentiation and competiveness is rooted in the capabilities and productivity of our robust global manufacturing network."
About WABCO
WABCO (WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, transmission automation, and aerodynamics. Today, all of the world's leading truck, bus and trailer manufacturers have WABCO technologies onboard. In addition, WABCO provides the industry with advanced fleet management solutions and aftermarket services. WABCO reported sales of $2.9 billion in 2014. The company is headquartered in Brussels, Belgium, and has 11,000 employees worldwide. For more information, visit www.wabco-auto.com.
Forward-Looking Statements
This document contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 that are based on management's good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "strategies," "prospects," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward looking in nature and not historical facts. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, our ability to successfully integrate any acquired businesses or our acquired businesses not performing as planned and the other risks and uncertainties described in the "Risk Factors" section and the "Information Concerning Forward Looking Statements" section of WABCO's Form 10-K, as well as in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements" section of WABCO's Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.