Tuesday, September 15, 2009

New York Air Brake lands CP deal, acquires Premtec, Inc.

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Canadian Pacific has signed a three-year contract for Anchor Brake shoes with Watertown, N.Y.-based New York Air Brake Corp. The Anchor Brake shoe products include high and low friction composition shoes as well as tread conditioning shoes.  NYAB notes the products are ISO 0991 and AAR M-1003 certified, and deliver service-proven durability and long-life brake shoes for locomotive and freight car applications.

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NYAB also noted Tuesday it acquired China Grove, N.C.-based Premtec, Inc., a manufacturer of M-601 hose blanks. Premtec has built hose blanks for NYAB for more than 12 years. “Bringing this manufacturing in-house will reduce costs and streamline production,” said NYAB President Paul Morgan.