Wabash plans to invest in new technologies
Mar 1, 2005 12:00 PM
Wabash National Corp's board of directors approved two major capital investment programs to maintain the company's position as a leading trailer manufacturer. The board approved $10 million for the first phase of what is anticipated to be a $40 million multi-year program to replace four trailer assembly lines. Additionally, the board approved $20 million for engineering and business process systems improvements.
Commenting on the projects, Dick Giromini, executive vice-president and chief operating officer, said, “This investment in our production capabilities will help to revolutionize trailer manufacturing, incorporating the use of technology proven in the automotive industry. When completed, the new assembly process will result in lower production costs and improved safety and product quality. We expect that when completed, each new line will produce annual cost savings of approximately $7 million. This expenditure marks our commitment to the greater Lafayette community.”
