Wabtec Acquires $15 Million Transit Aftermarket Parts Business From GE Transportation
WILMERDING, PA, June 30, 2011 –Wabtec Corporation (NYSE: WAB) has acquired a transit aftermarket parts business from GE Transportation. With annual sales of about $15 million, the business provides parts for propulsion and control systems for the passenger transit car aftermarket in North America. Wabtec expects the transaction to be accretive in the first year.
“This acquisition expands our transit aftermarket and service capabilities, with critical components related to propulsion and electronic controls,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “Nearly 5,000 transit cars in North America contain these GE components, giving Wabtec the opportunity to expand our content on a substantial installed base of rolling stock as transit agencies overhaul and maintain their equipment.”
The product lines include AC and DC traction motors and related components; and electronic control systems, including contactors and relays. These capabilities will become part of Wabtec Global Services, which operates a network of eight service centers in North America.
Wabtec Corporation is a global provider of value-added, technology-based products and services for rail and other 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.