Wabash Partners with Purdue University to Accelerate Research and Development in Advanced Initiatives

Rhea-AI Summary

Wabash (NYSE: WNC) has announced a five-year partnership with Purdue University to enhance its research and development capabilities. This collaboration aims to accelerate the launch of innovative products in response to the challenges posed by logistics disruptions and evolving transportation technologies such as electrification and autonomous driving.

Robert Lane, Wabash's VP of innovation, emphasized the need for quick adaptations to industry changes. The partnership will allow Wabash to utilize Purdue's resources in engineering, quantum computing, and material sciences to develop sustainable solutions.

Positive

• Partnership with Purdue University to enhance R&D capabilities.
• Access to advanced engineering and quantum computing resources.
• Focus on sustainability and innovation in logistics and transportation.

Negative

• None.

LAFAYETTE, Ind., Dec. 21, 2021 (GLOBE NEWSWIRE) -- Wabash (NYSE: WNC) today announced a partnership with Purdue University—a world-renowned, public research university that advances discoveries in science, technology, engineering and math—to accelerate the company’s speed to market with proprietary, innovative products.

Wabash has entered into a five-year agreement with Purdue as its research and development partner at a time when logistics disruption from ecommerce and home delivery is colliding with transportation changes driven by electrification, autonomous driving and a heightened focus on sustainability.

“The pace of change within transportation, logistics, and distribution has accelerated meaningfully in the past two years. Wabash’s capabilities within research and development, as well as commercialization of new products, has to match this increased speed,” said Robert Lane, vice president of innovation at Wabash. “As the visionary leader in our industry, we’re continually pursuing design and engineering innovations within our industry-leading first to final mile product portfolio. With Purdue’s partnership we can move more quickly to help our customers solve problems that derive from the intersection of logistics changes, emerging technologies and environmental consciousness.”

This multiyear venture connects Wabash to Purdue’s Office of Industry Partnerships, allowing the company to leverage the university’s resources ranging from advanced engineering and quantum computing power to material sciences and emerging EV technology, to deliver new or improved sustainability-focused solutions to the transportation, logistics and distribution industries.

About Wabash
As the innovation leader of engineered solutions for the transportation, logistics and distribution industries, Wabash (NYSE: WNC) is Changing How the World Reaches You™. Headquartered in Lafayette, Indiana, the company’s mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from first to final mile. Wabash designs and manufactures a diverse range of products, including: dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade processing equipment. Its innovative products are sold under the following brand names: Wabash National®, Benson®, Brenner® Tank, Bulk Tank International, DuraPlate®, Supreme®, Transcraft®, Walker Engineered Products, and Walker Transport. Learn more at www.wabashnational.com.

Safe Harbor Statement
This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements include, among other things, all statements regarding the Senior Notes, revolving credit facility and Term Loan Credit Agreement. These and the Company’s other forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Without limitation, these risks and uncertainties include a continued or prolonged shutdown or reduction of our operations, substantially reduced customer orders or sales volumes and supply disruptions due to the coronavirus (COVID-19) outbreak, the continued integration of Supreme into the Company’s business, adverse reactions to the transaction by customers, suppliers or strategic partners, uncertain economic conditions including the possibility that customer demand may not meet our expectations, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials including the impact of tariffs or other international trade developments, risks in implementing and sustaining improvements in the Company’s manufacturing operations and cost containment, dependence on industry trends and timing, supplier constraints, labor costs and availability, customer acceptance of and reactions to pricing changes and costs of indebtedness. Readers should review and consider the various disclosures made by the Company in this press release and in the Company’s reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

Media Contact:
Dana Stelsel
Director, Communications
(765) 771-5766
dana.stelsel@wabashnational.com

Investor Relations:
Ryan Reed
Director, Corporate Development & Investor Relations
(765) 490-5664
ryan.reed@wabashnational.com

Purdue University:
Nathan Utz
Vice President of Industry Partnerships
nkutz@purdueforlife.org

FAQ

What is the significance of Wabash's partnership with Purdue University?

The partnership aims to enhance Wabash's research and development capabilities, allowing quicker product innovation to address logistics disruptions and emerging technologies.

How long is Wabash's agreement with Purdue University?

Wabash's agreement with Purdue University is for five years.

What technologies will Wabash focus on with Purdue University's help?

Wabash will focus on electrification, autonomous driving, and sustainability-driven innovations in transportation and logistics.

What does Wabash aim to achieve through this partnership?

Wabash aims to accelerate its speed to market with innovative products and solutions that meet the changing demands of the industry.

How will this partnership impact Wabash's product development?

The partnership will provide Wabash access to Purdue's resources, enabling faster and more effective development of sustainability-focused solutions.