WABCO to supply Chery with pumps

Industry News | Ash | November 25, 2009 at 2:32 pm

Exciting news of the day:

Commercial vehicle supplier WABCO Holdings Inc. will supply parts to Chinese automaker Chery Automobile Co. under an agreement announced Tuesday.

WABCO, based in Belgium, will supply vacuum pumps for the brakes on diesel and gasoline cars. WABCO will produce the pumps at its plant in Qingdao, China.

The companies didn’t reveal how much the deal was worth.

Chery is one of China’s biggest automakers, with 365,000 cars sold in 2008. About half those cars were exported to more than 70 countries, making Chery China’s biggest car exporter.

U.S.-traded shares of WABCO fell 51 cents, or 2.2 percent, to $23.03 in morning trading.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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