GYŐR, Hungary - Hungary-based Rába Axle Ltd. announced today the signing of a five-year strategic agreement with Marmon-Herrington, setting key long-term strategic growth initiatives tied to product and market development in the specialty vehicle axle and drive train markets.
Building on the parties' 27 year history, the new agreement outlines focused business development plans for specialty truck, military, and off-highway axle markets that promote balanced, sustainable growth.
"Cooperation between our two companies further strengthens Raba Holding's position in the specialty vehicle market segment. It also goes in line with our goal to exploit our growing development and testing capabilities as much as possible", pointed out Mr. István Pintér, Rába Plc's CEO-Chairman.
In addition to setting broad strategic goals, the agreement establishes timelines for elevating product innovation, customer value, and market-leading product differentiation. Leveraging strong engineering, manufacturing, and financial strengths of the parties, the 5-year plan calls for the launch of new products and services to expand their existing portfolio of single-reduction and planetary drive axles already proven in the marketplace.
