WILMERDING, Pennsylvania, February 28, 2011 /PRNewswire/ --
Wabtec Corporation (NYSE: WAB) has acquired Brush Traction Group, a UK-based provider of locomotive overhauls, services and aftermarket components, for about $31 million. With facilities in Loughborough, England and Kilmarnock, Scotland, the company has annual sales of about $55 million. Wabtec expects the transaction to be accretive in the first year.
Brush Traction overhauls and maintains a variety of locomotives, including those used in Eurotunnel and high-speed UK service, for leasing companies and transit authorities. The company also provides traction motors, electrical control systems, wheelsets and other locomotive components.
"This acquisition strengthens our position as a leading aftermarket service provider in the UK," said Albert J. Neupaver, Wabtec's president and chief executive officer. "With its focus on the locomotive aftermarket, Brush Traction is a strategic complement to our Wabtec Rail unit in Doncaster, England, which offers mainly transit car refurbishment. The company has expertise in high-speed rail, strong engineering capabilities, a highly skilled work force and a long-standing reputation for quality."
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.
SOURCE Wabtec Corporation