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Press Contact: Tom Rodak
Director of Corporate Marketing
FOR IMMEDIATE RELEASE
Wabash National Corporation Announces New Reporting Segment:
DuraPlate® Products Group Rebranded as Wabash Composites
LAFAYETTE, Ind. – February 29, 2012 – Wabash National Corporation (NYSE: WNC) announced today that it established a new financial reporting segment, Diversified Products, in the fourth quarter of 2011. This segment comprises Wabash Composites (formerly DuraPlate Products Group), Wabash Energy and Environmental Solutions (formerly Allied Products Group) and Wabash Wood Products. This new reporting structure better aligns the Company’s external reporting with how the business is being managed internally. In addition, the greater visibility into the Company’s Diversified Products segment highlights an area that the Company views as an important potential source of growth and profitability for the Company and underscores Wabash National’s ongoing commitment to diversify its product offerings and revenues. Starting with the 2011 Form 10-K and going forward, Wabash National will report its underlying earnings primarily on the following segments: Commercial Trailer Products, Diversified Products and Retail.
Dick Giromini, President and Chief Executive Officer, stated, “We have made great strides in our ongoing efforts in transforming Wabash National into a diversified industrial manufacturer to reduce cyclicality, improve profitability and drive higher growth. Since our transformation began in 2008, the Company has realized significant growth in revenue and profitability from our diversification efforts. Our success has been driven by our ability to extend our industry leading technology, leverage our core manufacturing expertise and develop products that complement the transportation equipment we offer.”
Mr. Giromini continued, “Given the progress of these efforts and the opportunities we look to capture going forward, we felt it was appropriate to enhance our reporting structure. This new segmentation provides investors with improved visibility into our Company while better aligning our external reporting with how we are managing the business. We believe this also highlights our leading capabilities in composite technology and the compelling opportunities we see in further penetrating the energy and environmental space.”
The following information was filed by Wabash National Corp De (WNC) on Wednesday, February 29, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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