WABCO Board of Directors Authorizes Additional $400 Million
WABCO Board of Directors Authorizes Additional $400 Million of Share Buyback
BRUSSELS, BELGIUM -- (Marketwire) -- 10/29/12 -- WABCO Holdings Inc. (NYSE:WBC), (www.wabco-auto.com) a global technology leader and tier-one supplier to the commercial vehicle industry, today announced that on October 26, 2012 its board of directors authorized the company to enter into an additional share repurchase program. This board authorization allows for the repurchase of a further $400 million of common shares at the discretion of management for a period until December 31, 2014.
Since the initiation of WABCO's ongoing share buyback program of $400 million commenced in June 2011, the company has repurchased 6,409,012 million shares for $340.2 million in open market transactions as of October 26, 2012.
Together with the new program, WABCO is now authorized to repurchase up to $459.8 million of shares between now and December 31, 2014.
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
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, 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. Contacts: Media, investors and analysts contact: WABCO Holdings Inc. Jason Campbell +1 732 369 7477 email@example.com