Wabtec Signs Contract To Provide Braking Equipment For NJ Transit Commuter Rail Cars
WILMERDING, PA, May 18, 2011 – Wabtec Corporation (NYSE: WAB) has signed a contract to provide braking equipment to Bombardier Transportation Canada, Inc., which is building 100 new commuter rail cars for New Jersey Transit.
Valued at about $12 million, the contract also includes draft gears and bench test equipment. Wabtec expects to start deliveries later this year. The contract includes an option for Bombardier to purchase equipment for up to an additional 79 cars. New Jersey Transit awarded the commuter car order to Bombardier in 2010.
Albert J. Neupaver, president and chief executive officer of Wabtec, said: “The project is part of NJ Transit’s ongoing fleet modernization program, designed to increase capacity and improve reliability.”
Wabtec Corporation is a global provider of technology-based products and services for rail and industrial markets. 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.