WABCO Board of Directors Authorizes Additional $400 Million of Share
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
Media, investors and analysts contact:
WABCO Holdings Inc.
+1 732 369 7477
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