Monday, October 02, 2017

Wabtec picks up AM General

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Wabtec Corp. has acquired AM General Contractor, a Europe-based manufacturer of safety systems, mainly for transit rail cars. Based in Europe, AM has annual sales of about $25 million.

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AM, headquartered in Genova, Italy, 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.

“AM adds new, safety- and technology-related products to our portfolio,” said Raymond T. Betler, Wabtec’s president and chief executive officer. “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 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.

 

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