Westinghouse Air Brake Technologies : 5/9/2016 Two Acquisitions Expand Wabtec’s Capabilities In Track-Related Products/Services
May 09, 2016 at 07:45 am EDT
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WILMERDING, PA, May 9, 2016 - Wabtec Corporation (NYSE: WAB) has completed the acquisitions of Unitrac Railroad Materials and Pride Bodies, which provide a variety of track-related products and services. The companies have combined annual sales of about $45 million.
Raymond T. Betler, Wabtec's president and chief executive officer, said: 'Railroads in the U.S. spend up to 70 percent of their capital on infrastructure, and these acquisitions demonstrate Wabtec's expansion in this key market. Unitrac and Pride Bodies will be a good strategic fit with our existing capabilities, which now represent more than $100 million of annual revenues.'
Based in Tennessee, Unitrac is a leading designer and manufacturer of railroad track products such as turnouts, panels and frogs. The company's customers include Class I and short-line railroads, and transit agencies throughout North America.
Based in Ontario, Pride Bodies equips rail and utility vehicles with custom rail gear, cranes, air systems and lighting. Its custom aluminum bodies enable significantly increased payloads on heavy- and medium-duty vehicles used in rail and utility maintenance projects.
Wabtec's acquisition of companies such as G&B Specialties and Track IQ in recent years has resulted in a successful expansion into track-related products and services.
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.
Wabtec Corporation published this content on 09 May 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 May 2016 11:44:03 UTC.
Original documenthttps://www.wabtec.com/press-releases/7166/two-acquisitions-expand-wabtec’s-capabilities-track-related-productsservices
Public permalinkhttp://www.publicnow.com/view/2000CE2650DCB0EF806B08011070AD30FCB0C25A
Westinghouse Air Brake Technologies Corporation is one of the world's leading suppliers of value-added technological equipment, systems and services for the transportation sector. The activity is aorganized primarily around 4 families of products and services:
- electronics and special products: including electronic positive train control and pneumatic braking systems, event recorders, monitoring equipment, couplings, gears, couplers, air compressors and heat exchangers;
- transit products: heating, ventilation and air conditioning equipment, doors for buses and metro cars, pantographs, window assemblies, couplers, traction motors, etc.;
- brake components and friction products;
- refurbishment, overhaul and construction services: suburban locomotive construction and switching, overhaul and refurbishment of buses, subway cars and locomotives.
Net sales per market are divided between rail freight transport (71.9%), bus, metro and high-speed train transport (28.1%).
Net sales are distributed geographically as follows: the United States (47%), North America (9.1%), Europe (17%), South America (3.6%), Africa (1.1%) and other (22.2%).