Wabtec Receives $26 Million Order For Freight Car Components, Including ECP, In Saudi Arabia
WILMERDING, PA, November 17, 2015 – Wabtec Corporation (NYSE: WAB) has received an order valued at about $26 million to provide components, including electronically controlled pneumatic (ECP) braking equipment, for 1,186 freight cars to be built for the Saudi Arabia Railway. The components are expected to be delivered over the next two years.
Under the contract, Wabtec will provide a complete set of its components for the cars, including ECP and pneumatic brake equipment, draft gears, bogies and truck-mounted brakes.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “This project demonstrates the global reach of our freight rail business, which offers products and technologies to help our worldwide customers improve safety, productivity and efficiency. The benefits of ECP braking technology in commercial service have been proven by heavy-haul railroads around the world. Continued investment in this technology demonstrates that railroads can deploy ECP to reduce cycle times and improve train handling, among other operational benefits.”
With standard pneumatic brake equipment, the brakes are applied and released throughout the train sequentially, one car after another. ECP equipment uses an electronic signal to apply and release the brakes simultaneously throughout the train. As a result, ECP-equipped trains can operate safely at higher speeds with up to a 60 percent reduction in stopping distance. This leads to improved throughput and capacity, reduced wear on wheels, rails and brake shoes, and improved efficiency with a favorable return on investment.
Wabtec Corporation (www.wabtec.com) is a global provider of 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.