WABCO awarded long-term agreement WABCO announced that it has been awarded a new long-term agreement by a major manufacturer of commercial vehicles headquartered in Europe. WABCO will supply brake actuator technologies for a new truck platform that will enter into new markets in Southeast Asia. Series production is expected to begin in 2016 at the customer's plant in Thailand. In addition, under the extension of an existing long-term agreement, WABCO's factory in Rayong will continue through 2021 to equip the customer's standardized medium- and heavy-duty truck platform, which is manufactured at its plants in Thailand, India and China.
WABCO downgraded on valuation at Stifel As noted earlier, Stifel downgraded WABCO to Hold from Buy. The firm downgraded the shares based on valuation but continues to view the stock as a core long-term holding.