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WILMERDING, PA, Nov. 1, 2012 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 5 cents per share, payable on Nov. 30, 2012 to holders of record on Nov. 16, 2012.
 
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.

WILMERDING, PA, Oct. 23, 2012 –Wabtec Corporation (NYSE: WAB) today reported strong results for the 2012 third quarter, including the following:

  • Third quarter sales of $588 million, 18 percent higher than the year-ago quarter, as both operating groups showed growth.
  • Income from operations was $97 million, 28 percent higher than the 2011 third quarter.
  • Operating margin was 16.5 percent of sales compared to 15.1 percent of sales in the year-ago quarter.
  • Earnings per diluted share were $1.30, 35 percent higher than the year-ago quarter.
  • Cash flow from operations was $83 million for the quarter and $114 million for the first nine months of the year.
  • At Sept. 30, 2012, the company had cash of $282 million and debt of $433 million.
  • During the quarter, Wabtec repurchased 77,500 shares of its common stock for about $6 million. The company has about $95 million remaining on a $150 million authorization.

 
Based on its third quarter results and outlook for the rest of the year, Wabtec increased its full-year 2012 guidance for earnings per diluted share to $5.13-$5.18, with revenues now expected to be up about 22 percent for...

WILMERDING, PA, Oct. 15, 2012 –Wabtec Corporation (NYSE: WAB) today announced that it will report 2012 third quarter results before the U.S. financial markets open on Tuesday, Oct. 23. 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 “Investor Relations” 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 is a global provider of value-added, technology-based products and services for the rail and transit industry. 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.

WILMERDING, PA, Oct. 2, 2012 –Wabtec Corporation (NYSE: WAB) has acquired LH Group, a UK-based provider of maintenance and overhaul services for the passenger transit market, for about $48 million. LH has annual sales of about $65 million. Wabtec expects the transaction to be accretive in the first year.
 
Albert J. Neupaver, Wabtec’s president and chief executive officer, said: “LH complements and strengthens our existing aftermarket presence in the UK by enabling us to offer complete overhaul services for a variety of passenger transit vehicles and components, including engines and transmissions. In addition, the company’s engineering skills, focus on quality and long-standing customer relationships make LH a good fit with Wabtec.”
 
Based near Birmingham, England, LH overhauls diesel engines, transmissions, powerpacks and bogies. The company’s customers include a variety of rolling stock operators and original equipment manufacturers, with about 10 percent of its sales in non-rail markets. LH has about 350 employees.
 
Wabtec has built a leading aftermarket presence in the UK, with its Wabtec Rail and Brush Traction units. Acquired in 1998, Wabtec Rail overhauls and refurbishes passenger transit vehicles...

WILMERDING, PA, August 14, 2012 – Wabtec Corporation (NYSE: WAB) said its MotivePower subsidiary has signed a $45 million contract with Metrolinx, an agency of the Province of Ontario and the regional transportation authority for the Greater Toronto and Hamilton Area (GTHA), to repower 11 locomotives with new engines and propulsion systems that meet significantly higher environmental standards. Deliveries are expected to begin in 2014.
 
The locomotives, originally built by MotivePower about five years ago, will be repowered with new engines that meet Tier 4 emission standards, as set by the U.S. Environmental Protection Agency. They include technology that reduces diesel particulate emissions by about 85 percent and NOx emissions by about 75 percent compared to the current models.
 
“These will be the first North American passenger locomotives to be equipped with Tier 4 technology,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “We believe MotivePower is well positioned to participate further in this market by offering similar environmental upgrades to existing diesel-electric commuter locomotives throughout North America as the new standards are phased in over the next several years.”
 
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WILMERDING, PA, August 6, 2012 – Wabtec Corporation (NYSE: WAB) has completed the acquisition of Winco Equipamentos Ferroviários Ltda., to expand its presence in Brazil. Wabtec expects the transaction to be accretive in the first year. Based in Sao Paolo and with annual sales of about $15 million, Winco is an established marketing and sales company with capabilities including value-added engineering and assembly, service, technical support and logistics. The company has an extensive network of customer relationships in the freight rail and passenger transit markets throughout Brazil.
 
“Winco complements our existing presence in Brazil and provides a framework for further growth in this important market,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “Combined with our recent acquisition of Mors Smitt, a European-based manufacturer of electronic components for rail and industrial markets, this further demonstrates our ongoing commitment to expand Wabtec’s global presence.”
 
From 2006-2011, Wabtec’s sales outside of the U.S. grew from $370 million to $916 million, for a compounded annual growth rate of 20 percent. As the largest freight rail market in South America and the sixth-largest in the world,...

WILMERDING, PA, July 26, 2012 –Wabtec Corporation (NYSE: WAB) has signed a contract to manufacture brake equipment for freight cars to be purchased by GATX Rail Europe, a leading European rail equipment lessor. GATX Rail Europe sources cars from various European-based suppliers.
 
Under the contract, Wabtec will provide various models of brake systems, including the following components: control valves, slack adjusters, cylinders, new compact bogie brakes, discs and calipers. The components will be manufactured by Wabtec units in Europe. The contract is expected to last several years and has a value of about $18 million.
 
Albert J. Neupaver, president and chief executive officer of Wabtec, said: “We’re pleased to play a role in GATX Rail Europe’s growth and fleet renewal plans. Through this project, we are expanding our capabilities in the European freight rail market, and will eventually introduce our new, integrated brake beam technology (IBB10). In parallel, our brake distributor valve is becoming a standard in Europe.”
 
Wabtec Corporation is a global provider of technology-based products and services for rail and industrial markets. Through its subsidiaries, the company manufactures a...

WILMERDING, PA, July 24, 2012 – Wabtec Corporation (NYSE: WAB) today reported record results for the 2012 second quarter, including the following:

  • Second quarter sales were a record $610 million, 27 percent higher than the year-ago quarter, due mainly to strong growth in the Freight Group.
  • Income from operations was a record $101 million, or 16.5 percent of sales.
  • Earnings per diluted share were a record $1.33, compared to 75 cents in the 2011 second quarter. Excluding special items recorded in the 2011 second quarter, earnings per diluted share were 94 cents (non-GAAP) in the 2011 second quarter. For reconciliation with GAAP, see the table below.
  • At June 30, 2012, the company had cash of $234 million and debt of $443 million.
  • During the quarter, Wabtec repurchased 298,800 shares of company stock for about $22 million. The company has about $100 million remaining on a $150 million authorization.

Based on its second quarter results and outlook for the rest of the year, Wabtec increased its full-year 2012 guidance for earnings per diluted share to $5.10-$5.15, with revenues now expected to be up about 20 percent for the year....

WILMERDING, PA, July 16, 2012 –Wabtec Corporation (NYSE: WAB) has completed the acquisition of Tec Tran Corp. and its affiliates, the only U.S.-owned manufacturer of hydraulic braking systems for transit cars. Based in North Carolina and founded more than 30 years ago, Tec Tran has annual sales of about $10 million. Wabtec expects the transaction to be accretive in the first year.
 
Tec Tran designs and manufactures hydraulic braking systems and related components, including calipers, power units, electronic controls and brake discs, for both new and aftermarket applications. The company’s customers include global transit car builders and many North American transit agencies.
 
“With its expertise in hydraulic braking equipment, Tec Tran offers new capabilities and technology to complement our product portfolio,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “This technology is the preferred braking system for light-rail vehicles and streetcars, which are a growing segment of the transit car market in the U.S. In addition, Tec Tran’s products provide another way for Wabtec to help carbuilders meet their Buy America requirements.”
 
Light-rail vehicles are used primarily within cities...

WILMERDING, PA, July 13, 2012 –Wabtec Corporation (NYSE: WAB) today announced that it will report 2012 second quarter results before the U.S. financial markets open on Tuesday, July 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 “Investor Relations” 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 is a global provider of value-added, technology-based products and services for the rail and transit industry. 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.

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