Delivering a World of Difference
In 2015, WABCO won 31 major awards from customers around the world, an annual record. These valued commendations cite overall supplier and cost excellence, technology innovation, top quality and service, among other distinctions that exemplify our excellence in execution.
Now in its tenth year, and powered by Six Sigma Lean, WABCO’s Operating System generated strong productivity gains. For the year, conversion productivity in our factories reached 6.5%, a new annual record. In the fourth quarter, it set a new quarterly record for gross materials productivity at 6.6%.
To further secure global competitiveness, as reported in 2015, WABCO launched the process to cease manufacturing at two facilities in the Netherlands and France.
As of 2015, WABCO’s world-class manufacturing network comprised 21 sites in 11 countries on four continents. Fifteen of our factories are in best value countries, with 11 sites in Asia alone. Furthermore, 71% of our manufacturing workforce is located in best value countries.
We continued to connect WABCO’s manufacturing to sources of low-cost, high-quality materials. The share of our sourcing from best-cost regions has now reached 44%.
$5.62 per diluted share
WABCO delivered performance growth of $5.62 per share in 2015, a new annual record.
In India, our market leadership is rooted in decades of experience in frugal engineering. Our product and manufacturing engineers there have deep and unique know-how to tailor WABCO technologies invented in Europe for evolving technical and commercial requirements in emerging and advanced markets.
As of 2015, WABCO’s frugal design and re-design practices have been successfully applied to 58 creatively re-engineered products. This program now represents $103 million in cumulative future savings over the lifetime of these products.
Extending this frugal expertise, we re-engineered diecasting tools in India to more than double their lifetime and reduce capital spending by 30%.
In 2015, while outperforming prolonged depressed markets for new commercial vehicle builds globally, WABCO’s machine continued to power innovation, cost efficiency and quality to deliver bottom-line value for excellence in execution.