WABCO Holdings Inc.
NYSE : WBC

WABCO Holdings Inc.

April 19, 2016 07:30 ET

WABCO Acquires Laydon Composites Ltd; Expands Aerodynamic Product Portfolio for Heavy Duty Trucks and Trailers Worldwide

BRUSSELS, BELGIUM--(Marketwired - April 19, 2016) - WABCO (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has acquired Laydon Composites Ltd. (LCL), a manufacturer of aerodynamic devices for heavy-duty trucks and trailers. LCL generated revenues of approximately CAD$25 million in 2015 and is headquartered in Oakville, Ontario, Canada. Building on more than 30 years of experience, LCL was previously privately owned and operated.

Through the acquisition, WABCO is the only supplier that provides a full range of aerodynamic devices for commercial vehicles worldwide. Aerodynamic products reduce air drag of commercial trucks traveling long distances at highway speeds, thereby lowering fuel consumption and CO2 emissions. Aerodynamic devices help commercial vehicle fleet operators to improve their operational efficiency and environmental performance.

The acquisition creates attractive growth opportunities for both companies. WABCO's strong global presence provides customers worldwide with increased access to LCL products; likewise, WABCO expands its market access to North America through LCL's sales network and customer relationships in the region. Both companies have similar organizational cultures characterized by world-class engineering expertise and excellence in execution.

"We are thrilled to welcome LCL to the WABCO family," said Nick Rens, WABCO President, Trailer, Aftermarket and Off-Highway Division. "Both WABCO and LCL are companies that are driven by groundbreaking ideas in aerodynamics for commercial vehicles, and through innovative technologies, expertise and excellence in execution grew to become industry leaders. Together, we offer commercial vehicle fleets in international markets the most comprehensive portfolio of aerodynamic products to help them improve operating efficiency and comply with stringent environmental regulations."

"Joining WABCO is a tremendous opportunity for LCL, its customers and employees," said Brian P. Layfield, LCL President. "Both companies have a proud history of industry firsts. Together, we are poised to drive further technology innovation in aerodynamics for fleet customers worldwide."

WABCO and LCL combined provide a comprehensive portfolio of aerodynamic devices for heavy duty trucks and trailers for markets worldwide. LCL pioneered and continues to advance aerodynamic technology that is standard equipment on leading brands of heavy-duty trucks in North America. The company's collapsible air fairings improve air flow over tractor cabs, reducing fuel usage as much as 12 percent. For trailers, LCL's patented, SmartWay Elite certified Trailerskirt® and nose fairings reduce air drag for a combined 9 percent fuel savings and lower CO2 emissions.

A leading supplier of innovative aerodynamic technologies for commercial vehicles, WABCO offers OptiFlow™ SideWings for trailers in Europe. Its leading design and construction enables long-haul fuel savings of up to 5 percent and reduction of CO2 emissions by as much as 3.8 tons per semi-trailer per year. In addition, the company's OptiFlow Tail, an aerodynamic solution for the rear of a semi-trailer, generates fuel savings of up to 1.1 liter per 100 kilometers (4.7 gallons per 1,000 miles) at highway speeds. These fuel savings help fleet operators in Europe to lower CO2 emissions from tractor-trailers by up to 2.8 tons annually.

Press photo/caption: WABCO has expanded its global aerodynamics business by acquiring Laydon Composites Ltd. (LCL), a Canada-based manufacturer of aerodynamic devices for heavy-duty trucks and trailers.

About WABCO

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. For more information, visit www.wabco-auto.com.

About LCL

LCL, a WABCO company, has pioneered advances in aerodynamics for commercial trucks and custom applications for over 30 years. Today, the company offers a completely integrated approach to aerodynamic solutions including design, prototyping, testing and ISO-certified tooling and manufacturing. Its unique, state-of-the-art capabilities make it an industry leader across North America and worldwide. For more information, visit www.laydoncomp.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.

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