Communiqués de presse

Pages

 
WILMERDING, PA, May 17, 2019 – Wabtec (NYSE: WAB) shareholders today elected two directors and approved other company proposals at its annual meeting in Pittsburgh. Directors elected were: William E. Kassling and Albert J. Neupaver. 
 
In addition, shareholders ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the 2019 fiscal year, and approved proposals relating to executive and Board compensation.
 
About Wabtec Corporation Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC). The transit portfolio provides highly-engineered systems and services to virtually every major rail transit system around the world,...

 
WILMERDING, PA – May 1, 2019: Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the pricing of an underwritten secondary offering of 22,000,000 shares of Wabtec common stock at a public offering price of $73.50 by General Electric Company (“GE”), as the sole selling stockholder. The offering is expected to close on or about May 6, 2019, subject to the satisfaction of customary closing conditions.  The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares.  Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.
 
Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers.  BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering.
 
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities...

 
WILMERDING, PA – April 30, 2019: Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the launch of an underwritten secondary offering of 12,500,000 shares of Wabtec common stock by General Electric Company (“GE”), as the sole selling stockholder. The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional 1,875,000 shares.  Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.
 
Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers.  BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering.
 
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offering is being made under an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”)...

 
WILMERDING, PA – April 25, 2019: Wabtec Corporation (NYSE: WAB) today announced Rafael Santana will become president and CEO of the company, effective July 1, 2019. Santana, who will also become a Wabtec board member, will succeed Ray Betler, who will retire as a Wabtec executive and board member. 
 
Santana, 47, joined Wabtec earlier this year as president and CEO of the company’s Freight segment following the merger of Wabtec and GE Transportation, where he served as president and CEO of the General Electric unit.
 
Wabtec Executive Chairman Al Neupaver said: “This transition comes at a time of strength at Wabtec given our diverse portfolio, excellent management team, and strong backlog and balance sheet. The selection of Rafael to succeed Ray is the culmination of a thorough CEO succession planning process that evaluated both internal and external candidates. Rafael is the right leader for this role − bringing to Wabtec a passion for operational excellence and technology, and a strong track record of growth and performance.”
 
A native of Brazil, Santana brings roughly 25 years of commercial, product management...

 
WILMERDING, PA, April 25, 2019 – Wabtec Corporation (NYSE: WAB) today reported a loss per diluted share of $0.04 and adjusted earnings per diluted share of $1.06 in the 2019 first quarter (see reconciliation table).  The company said it generated cash from operations of $31 million for the quarter. Wabtec also affirmed its full-year guidance for sales and adjusted earnings per diluted share. 
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “Our first-quarter adjusted results represent a solid start to the year, and we’re well positioned to meet our financial targets in 2019 based on our current backlog and expected market conditions. 
 
“Since completing our merger with GE Transportation in late February, we have focused on continuing to serve our customers, integrating our companies and validating the strategic rationale for the combination.  We have also confirmed our target to deliver operating synergies of $250 million by year four, demonstrating further confidence in the financial benefits of the merger.  As we drive short-term performance and our synergy initiatives, we are also investing in our long-term growth strategies and are confident we...

WILMERDING, PA – April 10, 2019: Wabtec Corporation (NYSE: WAB) announced today that its Board of Directors declared a regular quarterly common dividend of 12 cents per share, payable on May 24, 2019 to holders of record on May 10, 2019.
 
Wabtec also announced it will report 2019 first quarter results before the U.S. financial markets open on April 25, 2019.  The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. ET the same day.  To listen to the call via webcast, please go to Wabtec’s new website at www.WabtecCorp.com and click on “Events & Presentations” in the “Investor Relations” section.  You can also go to www.wabtec.com and click on the “Investors” and “Webcasts” tabs of the site.  An audio replay of the call will be available by calling 412-317-0088 (passcode: 466#).
 
About Wabtec Corporation Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched...

 
WILMERDING, PA – April 2, 2019: Wabtec (NYSE: WAB) announced that Kristine Kubacki, CFA, has joined the company as vice president of investor relations. In this role, Kubacki will be responsible for communicating the vision and value of Wabtec to shareholders and the financial community. Kubacki will succeed Tim Wesley, who has held the role for more than 20 years.  Wesley will remain active with the company in this capacity over the next several months to ensure a seamless and orderly transition, then retire at the end of 2019. 
 
 
Raymond T. Betler, Wabtec’s president and CEO, said, “Kristine is a highly respected analyst in our sector and will bring deep financial and strategic analytical skills, as well as an extensive understanding of transportation, manufacturing and supply chain logistics to the role. As a sell-side analyst who has covered Wabtec for more than 10 years, she will add tremendous value to the company and bring investors an in-depth understanding of Wabtec’s growth potential and global competitive positioning.”
 
 
Kubacki joins Wabtec from Mizuho, where she served as executive director and...

Establishes Fortune 500, global transportation and logistics leader with attractive growth profile from large installed base, expanded global reach, strong mix of products and services
 
WILMERDING, PA, (Feb. 25, 2019) – Wabtec Corporation (NYSE: WAB) announced today it has completed its merger with GE Transportation, a former business unit of GE (NYSE: GE). This merger establishes Wabtec as a Fortune 500, global transportation and logistics leader by combining Wabtec’s broad range of freight, transit and electronics products with GE Transportation’s best-in-class equipment, services and digital solutions in the locomotive, mining, marine, stationary power and drilling industries.  Wabtec has also been notified that it will now be included in the S&P 500 Index.
 
 
Raymond T. Betler, Wabtec’s president and CEO, said: “We are very excited to complete the merger of our two companies. This is a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world. Our teams have made significant progress in integration planning, and this process has only strengthened our confidence...

WILMERDING, PA, Feb. 25, 2019 – Wabtec Corporation (NYSE: WAB) today reported results for its 2018 fourth quarter, including strong cash flow, and issued 2019 financial guidance.  The company also announced the completion of its merger with GE Transportation today, and said it has been notified that it will now be included in the S&P 500 Index.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “We are pleased that we finished the year as we expected and generated very strong cash flow from operations in the fourth quarter. The rebound in the freight cycle continued to drive revenue growth in our Freight Segment, and we saw strong sales growth in our Transit Segment. Heading into 2019, we expect to see revenue growth in both segments, as we continue to focus on driving margin expansion and cash generation.
 
“With the completion of our merger with GE Transportation, we are confident the company will drive improved growth and performance in 2019 and beyond by leveraging our more diversified business mix, global scale, and highly innovative technologies. As we integrate and capitalize on the strengths...

WILMERDING, PA, Feb. 22, 2019 – Wabtec Corporation (NYSE: WAB) said it plans to report 2018 fourth quarter results and 2019 financial guidance before the U.S. financial markets open on Monday, Feb. 25.  The company also expects to announce the closing of its merger with GE Transportation the same day.
 
Wabtec will conduct a conference call to discuss these topics with analysts and investors on Feb. 25 at 8:30 a.m.  To listen to the call via webcast, please go to www.wabtec.com and click on the “Investors” and “Webcasts” tabs of the site.  An audio replay of the call will also be available by calling 412-317-0088 (passcode: 466#).
 
Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.
 
 
Additional Information and Where to Find It
In connection with the...

Pages