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Article: American Standard Board Approves Spinoff of Vehicle Control Systems Business.
- Article from:
- PR Newswire
- Article date:
- July 12, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Will Create a New Public Company to be Known as WABCO (NYSE: WBC)
- Declares Quarterly Dividend of 16 Cents Per Share
PISCATAWAY, N.J., July 12 /PRNewswire-FirstCall/ -- The board of directors of American Standard Companies Inc. yesterday approved the tax- free spinoff of its Vehicle Control Systems business into a new publicly traded company to be called WABCO . WABCO is a leading global producer of electronic braking, stability, suspension and transmission control systems for commercial vehicles and was originally part of the Westinghouse Air Brake Company founded in 1869.
As part of its approval, the board authorized a dividend on its ...