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WILMERDING, PA, April 19, 2016 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 8 cents per share, payable on May 27, 2016 to holders of record on May 13, 2016.
 
Wabtec also said it will report 2016 first quarter results before the U.S. financial markets open on Tuesday, April 26.  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 global provider of value-added, technology-based products and services for the rail and transit industry. 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.

WILMERDING, PA, April 14, 2016 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $30 million to provide equipment and services for a Positive Train Control (PTC) system for the Northern Indiana Commuter Transportation District (NICTD).  The contract is with Parsons Transportation Group (PTG) which will execute the role of System Integrator.
 
Under the contract, Wabtec will provide its Interoperable Electronic Train Management System (I-ETMS®) equipment, TMDS® Dispatch and Back Office Systems that will include interfaces to the traction power system, wayside design, training and related services.  The contract is expected to be completed in 2018.  NICTD’s PTC system will be fully interoperable with the PTC system being implemented by Metra.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “We have worked with Parsons for several years to develop and design various commuter PTC programs, and we are pleased to work with them on this implementation.  Wabtec continues to demonstrate a unique and industry-leading ability to assist customers meet their PTC requirements.”
 
NICTD owns and operates a commuter rail service from South Bend, Ind., to Chicago, Ill.,...

WILMERDING, PA, March 2, 2016 – Wabtec Corporation (NYSE: WAB) said its MotivePower subsidiary has delivered a prototype locomotive to Metrolinx, an agency of the Province of Ontario and the regional transportation authority for the Greater Toronto and Hamilton Area (GTHA). This is the first commuter locomotive delivered in North America certified to meet the latest Tier 4 emissions standards, as set by the U.S. Environmental Protection Agency (EPA).
 
MotivePower has also signed a $97 million contract with Metrolinx to build an additional 16 Tier 4 locomotives that will be based on a similar platform and include AC propulsion.  Delivery is expected to begin in 2017.
 
Raymond T. Betler, president and chief executive officer of Wabtec, said:  “MotivePower has a long history of building commuter locomotives for the North American market.  This model demonstrates our ability to provide the latest technology, in keeping with our mission to help customers improve their safety, productivity and efficiency.”
 
The prototype locomotive, originally built by MotivePower about five years ago, was repowered with new engines to meet the Tier 4 emission standards.  The technology reduces...

WILMERDING, PA, February 18, 2016 – Wabtec Corporation (NYSE: WAB) today reported record results for 2015, including the following:
 

  • Sales for the fourth quarter increased to $833 million, as higher sales in the Freight Group more than offset lower sales in the Transit Group. Changes in foreign exchange rates reduced sales by about $27 million compared to the year-ago quarter.
  • Income from operations in the fourth quarter was $151 million or 18.2% of sales, compared to $137 million or 16.7% of sales in the year-ago fourth quarter. 
  • In the fourth quarter, earnings per diluted share were a record $1.05, 11 percent higher than the year-ago quarter.
  • For the full year, Wabtec had sales of $3.3 billion, income from operations of $608 million or 18.4% of sales, and earnings per diluted share of $4.10, all of which were records.  For the full year, the company generated cash flow from operations of $448 million, which exceeded net income of $399 million.
  • At year-end, the company had cash of $226 million, an additional $203 million of cash held in escrow for the planned acquisition of Faiveley Transport, and debt of
  • ...

WILMERDING, PA, February 10, 2016 – Wabtec Corporation (NYSE: WAB) said it repurchased about 4.6 million shares of its common stock for about $365 million during the fourth quarter of 2015.  The company also said its Board of Directors yesterday approved a new share buyback authorization for up to $350 million worth of its stock.  This new buyback authorization supersedes the previous authorization of $350 million, which had about $33 million remaining. 
 
For the full year of 2015, Wabtec repurchased about 4.9 million shares for about $388 million. 
 
The company intends to continue to buy back shares from time to time on the open market, or in negotiated or block trades.  As with previous authorizations, no time limit was set for the completion of the program, which is permitted under the company’s credit agreement and bond indenture.
 
Albert J. Neupaver, Wabtec’s executive chairman, said:  “We’re pleased that our Board of Directors continues to express strong confidence in the company’s long-term growth prospects and its ongoing ability to generate strong cash flow.”
 
Wabtec Corporation is a global provider of...

WILMERDING, PA, January 26, 2016 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 8 cents per share, payable on Feb. 26, 2016 to holders of record on Feb. 12, 2016.
 
Wabtec also said it will report 2015 fourth quarter and full year results before the U.S. financial markets open on Thursday, Feb. 18.  The company will conduct a conference call to discuss those results with analysts and investors at 9:30 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 is a global provider of value-added, technology-based products and services for the rail and transit industry. 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.

WILMERDING, PA, January 6, 2016 – Wabtec Corporation (NYSE: WAB) has started deliveries of brake equipment to Alstom, which is building up to 3,600 transit cars for the Passenger Rail Agency of South Africa (PRASA).  Under Wabtec’s contract, which is expected to generate revenues of at least $160 million over 10 years, it has provided 10 trainsets of brake systems for the cars, including brake control, bogie brakes and air generation.  
 
Raymond T. Betler, president and chief executive officer of Wabtec, said:  “This project expands our global product capabilities and footprint, provides aftermarket opportunities, and solidifies our presence in South Africa, where we are committed to growth.  We’re also pleased to be working on this project with Alstom, a world leader in the supply of systems, equipment and services in the railway sector.  As other countries around the world invest in their transportation systems, Wabtec expects to continue to play an important role.”  
 
The PRASA project is part of a program to modernize and expand its commuter rail system in response to increasing ridership.  Each single-deck train, consisting of six cars, will have the...

WILMERDING, PA, December 16, 2015 – Wabtec Corporation (NYSE: WAB) has signed contracts worth about $45 million to provide equipment and services for a Positive Train Control (PTC) system for the Northeast Illinois Regional Commuter Railroad Corp. (Metra).  The contracts are with Metra and Parsons Transportation Group (PTG).
 
Metra operates commuter rail service in Chicago and its surrounding suburbs, serving more than 100 communities at 241 rail stations, with a fleet of 146 locomotives, 843 passenger cars and 185 electric-propelled cars. 
 
Under the contracts, Wabtec will provide Interoperable Electronic Train Management System (I-ETMS®) equipment, including kits and replacement components.  In addition, Wabtec will provide its TMDS® Back Office System, as well as track data, training and related services.  Metra’s PTC system will be fully interoperable with PTC systems being implemented by Class I railroads in the U.S.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “We have worked with Metra for several years to develop and design their PTC program, and we are pleased to help in its implementation.  Wabtec continues to demonstrate a unique and industry-leading ability to...

WILMERDING, PA, December 7, 2015 – Wabtec Corporation (NYSE: WAB) has acquired Relay Monitoring Systems PTY Ltd. (RMS), a manufacturer of electrical protection and control products with annual sales of about $15 million.  The company’s products, which are used in energy and rail applications worldwide, include relays, transformer control systems, and voltage regulators, as well as electrical output monitoring systems and sensors.
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “RMS is an excellent strategic fit with our existing Mors Smitt business.  Together, the companies offer complementary products and geographic presence, which we believe will result in superior growth opportunities for both.”
Based in Australia, RMS has operations or distribution networks in Asia and the Middle East, and its customers include utilities and rail equipment manufacturers.
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.

WILMERDING, PA, November 17, 2015 – Wabtec Corporation (NYSE: WAB) has received an order valued at about $26 million to provide components, including electronically controlled pneumatic (ECP) braking equipment, for 1,186 freight cars to be built for the Saudi Arabia Railway.  The components are expected to be delivered over the next two years.
 
Under the contract, Wabtec will provide a complete set of its components for the cars, including ECP and pneumatic brake equipment, draft gears, bogies and truck-mounted brakes.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “This project demonstrates the global reach of our freight rail business, which offers products and technologies to help our worldwide customers improve safety, productivity and efficiency.  The benefits of ECP braking technology in commercial service have been proven by heavy-haul railroads around the world.  Continued investment in this technology demonstrates that railroads can deploy ECP to reduce cycle times and improve train handling, among other operational benefits.” 
 
With standard pneumatic brake equipment, the brakes are applied and released throughout the train sequentially, one car after another.  ECP equipment uses an electronic...

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