Wabco Holdings subsidiary RH Sheppard, which develops and manufactures steering systems for commercial vehicles, has signed a US$180m long-term extension agreement with an unnamed OEM to supply power steering gears for its truck brands in the US.
Under the agreement, it will supply the OEM with M-Series and D-Series power steering gears, covering a broad range of Class 5 to 8 medium and heavy duty trucks for two brands. The OEM is described as "one of the largest truck manufacturers in North America and has a growing presence in overseas markets".
"As a long-standing and trusted strategic partner of this global manufacturer, we are delighted to now include hydraulic power steering gears to the advanced technology portfolio that we already provide to them," said Jon Morrison, Wabco president, Americas.
Last February, Wabco secured a deal to develop and supply air suspension for "one of the world's largest manufacturers of premium passenger cars based in Europe".
• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more