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WILMERDING, PA, January 9, 2018 – Wabtec Corporation (NYSE: WAB) has appointed Donald M. Itzkoff as Vice President, Government Relations and Public Affairs.  Itzkoff comes to Wabtec from General Electric Company, where he led U.S. government affairs for GE Transportation.  He previously served as Deputy Federal Railroad Administrator in the Clinton administration and earlier was senior majority counsel with the U.S. Senate Committee on Commerce, Science, and Transportation. 
 
"We are delighted to have Don join Wabtec to elevate the company's profile as our public transportation, freight rail and industrial portfolio expands globally," said Raymond T. Betler, Wabtec’s president and chief executive officer.  "Don's deep expertise with transportation policy and his distinguished former government service will significantly strengthen Wabtec's standing both in Washington and around the world."    
 
Prior to joining GE, Itzkoff was a partner with Nossaman LLP and also with Foley & Lardner LLP. Itzkoff holds a J.D. from the University of Michigan and an undergraduate degree from Brown University.
 
Wabtec Corporation is a leading global provider of equipment, systems and value-added services for the public transportation, freight rail and industrial markets.  Wabtec has nearly 20,000 employees...

WILMERDING, PA, December 13, 2017 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $5 million to design, install, test and commission a yard train control solution for RUMO, one of the largest freight railroads in Brazil.
 
Under the contract, Wabtec will provide its Train Management & Dispatching System (TMDS) associated with wayside signaling interlocking, training and systems integration. Installation is expected to be completed by the end of 2018, providing increased safety and efficiency to one of the main ports in Brazil.
 
The initiative will allow the port, located in Santos, São Paulo state, to prepare for future technology upgrades and to integrate with other railroads.  In doing so, it will become an essential interoperable point to Brazil’s railroads.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said: Wabtec’s relationship with RUMO is extremely strong as a result of the Freight Products and Services for both cars and locomotives that we have been supplying for decades. The addition of this Train Control Contract allows for even greater collaboration while providing innovative railway solutions that reinforce our position...

WILMERDING, PA, December 4, 2017 – Wabtec Corporation (NYSE: WAB) has acquired Melett Limited, a leader in the design, manufacture and supply of high-quality turbochargers and replacement parts to the turbocharger aftermarket.  Headquartered in the United Kingdom, Melett has annual sales of about $40 million.
 
With operations in the UK, Europe, North America and China, Melett provides turbochargers and repair parts to automotive turbocharger reconditioning and remanufacturing customers in more than 100 countries around the world.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Melett complements both our overall turbocharger strategy and our product portfolio through its globally recognized brand and comprehensive aftermarket solutions.  It provides our existing turbocharger business with an extensive and low-cost manufacturing and distribution base in Europe and China.  This acquisition represents an excellent strategic fit that expands our aftermarket presence and provides direct access to key international markets.”

 

Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company...

WILMERDING, PA, Nov. 7, 2017 – Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts worth more than $150 million by RailConnect NSW, a consortium consisting of the Hyundai Rotem Company, UGL Limited and Mitsubishi Electric Australia, to supply a complete range of railway systems and maintenance services for the 56 train sets (512 cars) of the New Intercity Fleet, New South Wales Australia.
 
Under the contracts Faiveley Transport will provide full braking systems (air generation, brake control and bogie brake), door systems (access doors and interior doors), HVAC (cabin and saloon heating, ventilation and air conditioning), vigilance units, pantographs and Energy Monitoring Systems. The scope of supply includes the study, design, engineering, manufacture and delivery of the rail systems, as well as a maintenance contract for a 15-year period. It will involve Faiveley operating units in Australia, France, Italy, Germany, Czech Republic, India and China. Deliveries are expected to start by the end of 2017 and to be completed by September 2020.
 
The New Intercity Fleet is a new fleet of high-capacity double-deck trains, ordered in 2016 by the New...

WILMERDING, PA, Oct. 31, 2017 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 12 cents per share, payable on Nov. 27, 2017 to holders of record on Nov. 13, 2017.
 
Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  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. 24, 2017 – Wabtec Corporation (NYSE: WAB) today reported results for the third quarter and updated its financial guidance for 2017. 
 
2017 Third Quarter Consolidated Results

  • Sales were $958 million, a 42 percent increase compared to the year-ago quarter, as sales from acquisitions, mainly in the Transit Group, more than offset slightly lower organic sales.  Changes in foreign exchange rates increased sales by $7 million compared to the year-ago quarter.
  • Income from operations was $102 million including expenses of $20 million for contract adjustments and $6 million for restructuring and integration actions.  Excluding these expenses, the company’s operating margin was 13.4 percent, slightly better than its adjusted operating margin in the first half of the year.
  • Net interest expense was $18 million, reflecting a higher debt balance due mainly to the Faiveley Transport acquisition in late 2016.
  • Other expense was $2.9 million, mainly due to a non-cash foreign exchange loss. 
  • Income tax expense was $13 million including a benefit of $10 million related to adjustments of foreign deferred tax liabilities.  Excluding the tax benefit, the effective tax rate was 28 percent. 
  • Earnings per diluted share were
  • ...

WILMERDING, PA, Oct. 11, 2017 – Wabtec Corporation (NYSE: WAB) said it will report 2017 third quarter results before the U.S. financial markets open on Tuesday, Oct. 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 “Investors” 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 (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  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. 10, 2017 – Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts worth more than $100 million by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris.  The trains will eventually run on lines D and E of the Paris network.
 
Under the contracts Faiveley Transport will provide complete braking systems (air generation, brake control and bogie brakes), door systems, HVAC systems (cabin and saloon heating, ventilation and air conditioning), pantographs and tachometer systems.  The scope of supply includes the study, design, engineering, manufacture and delivery of the rail systems, which will involve Faiveley operating units in France, Germany, Italy, Sweden, and the Czech Republic. Deliveries are expected to start by September 2018 and to be completed by 2022.
 
As part of a framework contract for up to 255 trains, the first 71 trains were ordered earlier this year by SNCF, the French national railway, with a consortium of Alstom-Bombardier. These trains, which consist of 56 six-car and 15 seven-car sets, will be...

WILMERDING, PA, Oct. 2, 2017 – Wabtec Corporation (NYSE: WAB) has acquired AM General Contractor (AM), a manufacturer of safety systems, mainly for transit rail cars.  Based in Europe, AM has annual sales of about $25 million. 
 
AM manufactures primarily fire protection and extinguishing systems, including a patented, infra-red technology solution.  The company also provides related aftermarket services and components for both rail and industrial markets.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “AM adds new, safety- and technology-related products to our portfolio.  Its growth opportunities include an expanding retrofit market over the next five years, driven by European Union regulations.  In addition, AM’s technology offers expansion opportunities into new geographic markets including the UK, India and China.”
 
Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail.  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, July 25, 2017 – Wabtec Corporation (NYSE: WAB) today reported results for the second quarter and updated its financial guidance for 2017. 
 
2017 Second Quarter

  • Sales were $932 million, a 29 percent increase compared to the year-ago quarter, as higher sales in the Transit Group more than offset lower sales in the Freight Group.  Transit sales increased due to the Faiveley Transport acquisition.  Freight sales were affected mainly by lower revenues from freight car and locomotive components, and a slower-than-expected ramp-up of certain projects.  Changes in foreign exchange rates reduced sales by $15 million compared to the year-ago quarter.
  • Income from operations was $114 million, or 12.2 percent of sales, including restructuring and transaction expenses of $9 million related to the Faiveley integration and ongoing cost-reduction activities.  Excluding these expenses, the company’s operating margin was 13.2 percent, similar to its adjusted operating margin in the first quarter of this year.
  • Net interest and other expense was $17 million, reflecting a higher debt balance due mainly to the Faiveley acquisition and a non-cash foreign exchange loss.  Net interest expense included a $2 million benefit related to the prepayment
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