Economy/AP
Auto supplier WABCO signs deal to supply Chinese automaker Chery cars
By: The Associated Press
Associated Press
11/24/09 8:10 AM PST
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.
