Wabash National® Announces Agreement to Manufacture Frac Tanks for the Environmental Services, and Oil and Gas Industries
LAFAYETTE, Ind. – March 17, 2011 – Wabash National Corporation (NYSE: WNC) today announced an exclusive, 5-year agreement to manufacture frac tanks for Indiana-based Sabre Manufacturing. Wabash National will be investing approximately $2.5 million and adding up to 200 jobs to support the new manufacturing initiative.
Production of approximately 300 units in 2011, to be manufactured at Wabash National’s South Campus in Lafayette, Ind., is expected to commence next month with upwards of 2,500 units being produced over the next 5 years. Frac tanks are bulk liquid storage containers used by fluid management companies in the environmental services, and oil and gas industries.
"This agreement exemplifies our ongoing strategy to enhance our business model through growth-oriented diversification," said Dick Giromini, president and chief executive officer of Wabash National. "By leveraging our core manufacturing strengths and capabilities into new applications and market sectors, we become a stronger, more balanced company that can deliver greater value to its shareholders."
"We are privileged to operate in an exceptional community with such a dedicated and proud workforce, and we are pleased to, once again, be able to create new job opportunities for the area," Giromini added. "I would like to thank Mayor Tony Roswarski, the Tippecanoe County Commissioners, the Lafayette City Council, the Lafayette Redevelopment Commission, and the Greater Lafayette Commerce for their support on the project. We look forward to their continued support as we advance our growth strategy in the months and years ahead."
"Introducing production of these tanks to Lafayette opens new doors of opportunity for our community and Wabash National," said Tony Roswarski, mayor of City of Lafayette. "It boosts community employment, enhances our local economy, and strengthens one of our top manufacturers. The city of Lafayette salutes Wabash National for taking this initiative and diversifying its manufacturing operations."
"Since 1985, Tippecanoe County has benefitted tremendously from Wabash National’s pioneering innovations," said David Byers, president of Tippecanoe County Commissioners. "Now, the company is marking another significant milestone, bringing in new production, which also carries with it more benefits to our community. The Tippecanoe County Commissioners see this as a great match—a world-renowned company teaming up with our county’s skilled and dedicated workers."
About Wabash National Corporation
Headquartered in Lafayette, Ind., Wabash National® Corporation (NYSE: WNC) is one of the leading manufacturers of semi trailers in North America. Established in 1985, the Company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, dump trailers, truck bodies and intermodal equipment. Its innovative core products are sold under the DuraPlate®, ArcticLite®, FreightPro™ Eagle® and Benson™ brand names. The Company operates two wholly-owned subsidiaries: Transcraft® Corporation, a manufacturer of flatbed, drop deck, dump trailers and truck bodies; and Wabash National Trailer Centers, trailer service centers and retail distributors of new and used trailers and aftermarket parts throughout the U.S.
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Headquartered in Lafayette, Indiana, Wabash National Corporation (NYSE: WNC) is a diversified industrial manufacturer and North America’s leading producer of semi-trailers and liquid transportation systems. Established in 1985, the company manufactures a diverse range of products including: dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment. Its innovative products are sold under the following brand names: Wabash National®, Beall®, Benson®, Brenner® Tank, Bulk Tank International, DuraPlate®, Extract Technology®, Garsite, Progress Tank, Transcraft®, Walker Barrier Systems, Walker Engineered Products, and Walker Transport. Visit www.wabashnational.com to learn more.