Press Releases

Factory completes one year of manufacturing, on track to roll out 100th India locomotive. Two years ago, at the same IREE event, legacy GE Transportation announced the arrival of its first 4500 horsepower (HP) locomotive at the Mundra Port. To date, there are 135 such locomotives in revenue service with the Indian Railways, including 85 that were fully manufactured in India and is set to have 70 percent local content. Wabtec’s 6000 HP diesel-electric locomotive, the first in India, is currently undergoing test trials on Indian Railways track and is expected to enter revenue service soon.

Wabtec Corporation (NYSE: WAB), a high-tech supplier for the freight and transit rail industries, today celebrated 150 years of innovation and the grand opening of its new headquarters in Pittsburgh. The company’s origins began in Western Pennsylvania with founder George Westinghouse Jr.’s invention of the automatic air brake – a breakthrough that redefined the transportation industry and saved lives

Wabtec Corporation (NYSE: WAB) announced it will report 2019 third quarter results before the U.S. financial markets open on Oct. 31, 2019. The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. ET the same day. To listen to the call via webcast, visit Wabtec’s website at www.WabtecCorp.com.

Today at Railway Interchange 2019, Wabtec Corporation (NYSE: WAB) announced two new offerings designed to modernize its global installed base of 23,000 locomotives. To maximize asset lifecycle value and reduce total cost of ownership for customers, Wabtec has developed a fuel-saving engine upgrade package, called “FDL Advantage,” for its FDL locomotive platform as well as a complete control system replacement. In addition to addressing industry imperatives for improved fuel efficiency and reliability, these solutions introduce next-generation data and software capabilities to position railroads for the future of transportation.

Wabtec Corporation’s Vapor Stone Rail Systems celebrated its continued investment in Plattsburgh with the grand opening of its plant on Arizona Ave. The new 60,000-sq-ft facility, which is the company’s second plant adjacent to the Plattsburgh International Airport, supports the company’s continued growth by increasing its manufacturing capabilities and adding warehouse space.

Wabtec Corporation (NYSE: WAB) today announced the pricing of an underwritten secondary offering of 20,485,156 shares of Wabtec common stock at a public offering price of $72.50 by General Electric Company (“GE”), as the sole selling stockholder. The offering is expected to close on or about August 9, 2019, subject to the satisfaction of customary closing conditions. The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Wabtec Corporation (NYSE: WAB) today announced the launch of an underwritten secondary offering of 20,485,156 shares of Wabtec common stock by General Electric Company (“GE”), as the sole selling stockholder. The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Wabtec Corporation (NYSE: WAB) today reported earnings per diluted share of $0.54 and adjusted earnings per diluted share of $1.06 in the 2019 second quarter (see reconciliation table). The company generated GAAP cash from operations of $413 million for the quarter and raised its 2019 GAAP cash from operations guidance to about $900 million. Wabtec also updated its full-year guidance for sales of about $8.3 billion and adjusted earnings per diluted share to between $4.10 to $4.20.

Wabtec Corporation (NYSE: WAB) completed delivery of five diesel-electric PowerHaul® series locomotives to Körfez Ulaştırma A.Ş., the subsidiary of Turkey’s largest refinery Tüpraş operating in railway transportation.

Wabtec Corporation (NYSE: WAB) announced today the appointments of Rafael Santana, the Company’s president and CEO, and Ann Klee, long-time GE Vice President of Environment, Health and Safety, to its Board of Directors. Santana’s election was effective July 1. Klee is expected to join the Board in the fourth quarter of 2019.

Wabtec Corporation (NYSE: WAB) announced it will report 2019 second quarter results before the U.S. financial markets open on July 30, 2019. The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. ET the same day. To listen to the call via webcast, visit Wabtec’s website at www.WabtecCorp.com and click on “Events & Presentations” in the “Investor Relations” section. An audio replay of the call will be available by calling 412-317-0088 (passcode: 466#).

Wabtec (NYSE: WAB) announced today that it is collaborating with Calgary-based Hifi Engineering to enhance digital technologies that monitor asset health to predict and prevent failures at mine sites. By incorporating Hifi’s leading-edge fiber optic sensing technologies with Wabtec’s Digital Mine solutions, mine operators can monitor the integrity of critical pipeline assets used to transport ore more efficiently, over long distances, and through environmentally sensitive areas.

Wabtec Corporation (NYSE: WAB) was selected to provide fully integrated Positive Train Control (PTC), digital imaging, and data transfer and analytics capabilities for Iowa Northern Railway Company, marking Wabtec’s first such deal since closing its merger with GE Transportation. Under the contract, Wabtec will provide an integrated offering, including its Interoperable Electronic Train Management System (I-ETMS®) PTC safety-overlay solution, LDRS-V video recorder, training, and system integration services across Iowa Northern Railway’s entire locomotive fleet.

Wabtec Corporation (NYSE: WAB) and the United Electrical, Radio and Machine Workers of America Local 506 and 618 today reached a tentative agreement on a new four-year contract with good wages and benefits, pending ratification by the 1,700 UE members.

Wabtec (NYSE: WAB) announced today that its Digital Mine organization is collaborating with Webalo, Inc. to enhance and enrich the user experience for its mining customers. Mine operators need digital technologies to drive more productivity out of their mine sites while balancing the challenge of gaining full and actionable visibility into the massive amounts of data that they are capturing every day. By incorporating Webalo’s Connected Worker and Control Tower functionality with Wabtec’s Digital Mine Operations Performance Management solution, the resulting capability brings disparate enterprise and operational data into a “single-pane-of-glass” to accelerate productivity across the mine site.