Wabtec Signs Contract To Manufacture Brake Equipment For GATX Rail Europe
WILMERDING, Pa., July 26, 2012 /PRNewswire/ -- 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 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