Wabtec Receives Order To Build Locomotives For CFCL Australia, Marubeni
WILMERDING, Pa., May 1, 2012 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) said its MotivePower subsidiary has received an order to build 10 locomotives for CFCLA Rail JV Pty Ltd., a joint venture of CFCL Australia Pty. Limited and Marubeni Corporation of Tokyo, Japan. CFCL Australia is the leading locomotive and freight car lessor in Australia, and Marubeni is a Japanese company with interests in transportation and a variety of other industries.
The locomotives, expected to be delivered in 2013, will be MotivePower's standard gauge MP33C model that is among the most fuel-efficient and environmentally friendly units in the world. The locomotives will include components from a number of other Wabtec divisions.
Albert J. Neupaver, Wabtec's president and chief executive officer, said: "This project builds on Wabtec's strong presence in Australia for more than 20 years. The locomotives will meet our customers' needs for more-efficient equipment, and will position Wabtec for similar opportunities globally."
In 2011, Wabtec received its first locomotive order in Australia from CBH Group, a leading handler and transporter of grain in Australia. Through its Wabtec Australia and FIP divisions, Wabtec offers the full complement of its products and services there. The Australian market is one of the world's largest rail markets that use U.S.-style equipment and technology.
Ian Gibbs, managing director of CFCLA, said: "CFCLA and Marubeni are excited to introduce a new locomotive class into the Australian leasing market at a competitive price with an acceptable performance rating across various freight tasks for our broad customer base. The new locomotives have the latest fuel efficiency engines and environmentally friendly technology, which will enhance their attractiveness to our customers."
Wabtec Corporation (www.wabtec.com) is a global provider of technology-based products and services for rail, transit 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 freight, switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world. MotivePower (www.motivepower-wabtec.com) is an industry leader in the design, manufacture and re-manufacture of diesel-electric locomotives.
SOURCE Wabtec Corporation