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WILMERDING, PA, Nov. 7, 2017 – Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts worth more than $150 million by RailConnect NSW, a consortium consisting of the Hyundai Rotem Company, UGL Limited and Mitsubishi Electric Australia, to supply a complete range of railway systems and maintenance services for the 56 train sets (512 cars) of the New Intercity Fleet, New South Wales Australia.
 
Under the contracts Faiveley Transport will provide full braking systems (air generation, brake control and bogie brake), door systems (access doors and interior doors), HVAC (cabin and saloon heating, ventilation and air conditioning), vigilance units, pantographs and Energy Monitoring Systems. The scope of supply includes the study, design, engineering, manufacture and delivery of the rail systems, as well as a maintenance contract for a 15-year period. It will involve Faiveley operating units in Australia, France, Italy, Germany, Czech Republic, India and China. Deliveries are expected to start by the end of 2017 and to be completed by September 2020.
 
The New Intercity Fleet is a new fleet of high-capacity double-deck trains, ordered in 2016 by the New...

WILMERDING, PA, Oct. 31, 2017 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 12 cents per share, payable on Nov. 27, 2017 to holders of record on Nov. 13, 2017.
 
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.

WILMERDING, PA, Oct. 24, 2017 – Wabtec Corporation (NYSE: WAB) today reported results for the third quarter and updated its financial guidance for 2017. 
 
2017 Third Quarter Consolidated Results

  • Sales were $958 million, a 42 percent increase compared to the year-ago quarter, as sales from acquisitions, mainly in the Transit Group, more than offset slightly lower organic sales.  Changes in foreign exchange rates increased sales by $7 million compared to the year-ago quarter.
  • Income from operations was $102 million including expenses of $20 million for contract adjustments and $6 million for restructuring and integration actions.  Excluding these expenses, the company’s operating margin was 13.4 percent, slightly better than its adjusted operating margin in the first half of the year.
  • Net interest expense was $18 million, reflecting a higher debt balance due mainly to the Faiveley Transport acquisition in late 2016.
  • Other expense was $2.9 million, mainly due to a non-cash foreign exchange loss. 
  • Income tax expense was $13 million including a benefit of $10 million related to adjustments of foreign deferred tax liabilities.  Excluding the tax benefit, the effective tax rate was 28 percent. 
  • Earnings per diluted share were
  • ...

WILMERDING, PA, Oct. 11, 2017 – Wabtec Corporation (NYSE: WAB) said it will report 2017 third quarter results before the U.S. financial markets open on Tuesday, Oct. 24.  The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. the same day.  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.

WILMERDING, PA, Oct. 10, 2017 – Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts worth more than $100 million by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris.  The trains will eventually run on lines D and E of the Paris network.
 
Under the contracts Faiveley Transport will provide complete braking systems (air generation, brake control and bogie brakes), door systems, HVAC systems (cabin and saloon heating, ventilation and air conditioning), pantographs and tachometer systems.  The scope of supply includes the study, design, engineering, manufacture and delivery of the rail systems, which will involve Faiveley operating units in France, Germany, Italy, Sweden, and the Czech Republic. Deliveries are expected to start by September 2018 and to be completed by 2022.
 
As part of a framework contract for up to 255 trains, the first 71 trains were ordered earlier this year by SNCF, the French national railway, with a consortium of Alstom-Bombardier. These trains, which consist of 56 six-car and 15 seven-car sets, will be...

WILMERDING, PA, Oct. 2, 2017 – Wabtec Corporation (NYSE: WAB) has acquired AM General Contractor (AM), a manufacturer of safety systems, mainly for transit rail cars.  Based in Europe, AM has annual sales of about $25 million. 
 
AM manufactures primarily fire protection and extinguishing systems, including a patented, infra-red technology solution.  The company also provides related aftermarket services and components for both rail and industrial markets.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “AM adds new, safety- and technology-related products to our portfolio.  Its growth opportunities include an expanding retrofit market over the next five years, driven by European Union regulations.  In addition, AM’s technology offers expansion opportunities into new geographic markets including the UK, India and China.”
 
Wabtec Corporation 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.

WILMERDING, PA, July 25, 2017 – Wabtec Corporation (NYSE: WAB) today reported results for the second quarter and updated its financial guidance for 2017. 
 
2017 Second Quarter

  • Sales were $932 million, a 29 percent increase compared to the year-ago quarter, as higher sales in the Transit Group more than offset lower sales in the Freight Group.  Transit sales increased due to the Faiveley Transport acquisition.  Freight sales were affected mainly by lower revenues from freight car and locomotive components, and a slower-than-expected ramp-up of certain projects.  Changes in foreign exchange rates reduced sales by $15 million compared to the year-ago quarter.
  • Income from operations was $114 million, or 12.2 percent of sales, including restructuring and transaction expenses of $9 million related to the Faiveley integration and ongoing cost-reduction activities.  Excluding these expenses, the company’s operating margin was 13.2 percent, similar to its adjusted operating margin in the first quarter of this year.
  • Net interest and other expense was $17 million, reflecting a higher debt balance due mainly to the Faiveley acquisition and a non-cash foreign exchange loss.  Net interest expense included a $2 million benefit related to the prepayment
  • ...

WILMERDING, PA, June 7, 2017 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $22 million to design, install, test and commission Positive Train Control (PTC) for the Belt Railway Company of Chicago (BRC).  
 
Under the contract, Wabtec will provide its Interoperable Electronic Train Management System (I-ETMS®) equipment for five locomotives, a back-office server, office hosting, wayside and communications design, a track database, construction, training, and system integration.  The contract is expected to be completed in 2018.   
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “The scope of our work on this project demonstrates the wide-ranging roles that Wabtec can play in the implementation of PTC for our customers.  We are continuing to invest worldwide in this important segment of our business.”
 
With complex interoperability requirements, BRC owns and operates about 292 miles of track, with about 27 miles of mainline track encompassed in two subdivisions: Kenton and 59th Street.  BRC’s PTC system will be fully interoperable with the PTC system being implemented by all Class 1 owners as well as Metra, Amtrak and five short-line...

WILMERDING, PA, May 18, 2017 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $40 million to design, install, test and commission Positive Train Control (PTC) for the South Florida Regional Transportation Authority (SFRTA), which operates the Tri-Rail commuter rail service.
 
Under the contract, Wabtec will provide its Interoperable Electronic Train Management System (I-ETMS®) equipment for 42 locomotives and cab cars, a back-office server, wayside communications and signals, a dispatch system, training, and system integration.  Installation is expected to be completed by the end of 2018.   
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “The scope of our work on this project demonstrates the wide-ranging roles that Wabtec can play in the implementation of PTC for our customers.  We are continuing to invest worldwide in this important segment of our business.”
 
Tri-Rail operates more than 70 miles of track along the east coast of Florida between Mangonia Park and the Miami Intermodal Center.  SFRTA’s PTC system will be fully interoperable with the system being implemented by all Class 1 railroads.
 
Wabtec Corporation (...

WILMERDING, PA, May 10, 2017 – Wabtec Corporation (NYSE: WAB) shareholders today elected four directors and approved other company proposals at its annual meeting in Pittsburgh.  Directors elected were:  Raymond Betler, Philippe Alfroid, Emilio Fernandez and Lee Foster, II.
 
Shareholders also ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the 2017 fiscal year, and approved proposals relating to executive and Board compensation.
 
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.

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