Recent acquisitions helped boost results for component and systems provider Wabtec Corp. in the third quarter as sales of existing equipment in the transit and freight categories faced “challenging market conditions.”
Wabtec Corp., in reporting results for 2017’s first quarter, noted that higher Transit Group sales offset lower Freight Group figures. The company also affirmed financial guidance for 2017.
Amsted Rail announced Oct. 28 that it has entered into an agreement to acquire 100% ownership of the Amsted Rail-Faiveley brake component business for freight cars.
Wabtec Corporation on April 26, 2016 reported results for first-quarter 2016, with higher sales in the company’s Transit Group more than offset by lower sales in the Freight Group, leading to $772 million in sales for the quarter. Changes in foreign exchange rates reduced sales by about $18 million compared to the year-ago quarter.
Wabtec Corporation on Feb. 18, 2016 reported record results for fourth-quarter 2015, as higher sales in the company’s Freight Group more than offset lower sales in the Transit Group, which led to $833 million in sales for the quarter.
Wabtec Corp. on Oct. 22, 2015 reported solid third-quarter 2015 results largely due to growth in the company’s Freight Group.
Wabtec Corp. on Oct. 6, 2015 signed a definitive agreement with members of the Faiveley family to acquire approximately 51% of Faiveley Transport S.A., a provider of integrated systems and services for the railway industry with annual sales of about $1.2 billion. The total purchase price is about $1.8 billion, including assumed debt.
Wabtec has confirmed that it plans to acquire Faiveley Transport for a total purchase price of $1.8 billion, including assumed debt, which if approved, will create one of the world’s largest rail equipment supply companies.
