Wabtec Acquires Thermal Transfer, A Supplier Of Industrial Heat Exchangers
WILMERDING, PA, April 6, 2017 – Wabtec Corporation (NYSE: WAB) has acquired Thermal Transfer Corp., a supplier of industrial heat exchangers. The company has annual sales of about $25 million.
Thermal Transfer manufactures heat exchangers and related components for a variety of industrial markets. The majority of its sales are in the U.S. and in the aftermarket.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Thermal Transfer will be an excellent strategic fit with our existing heat exchanger products for rail and industrial markets. The company offers a broad portfolio of heat transfer solutions for niche applications, which will enable Wabtec to diversify its product and market applications further. In addition, Thermal Transfer’s extensive design and engineering expertise will complement our existing capabilities.”
Thermal Transfer focuses on providing innovative and durable products in industrial applications where high temperatures and corrosive elements are present. The company has products installed worldwide.
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.