Ajith (“AJ”) Kumar recently received his 362nd U.S. patent. He is Vice President Technology-Innovation for Wabtec, whose origins began in Western Pennsylvania with founder George Westinghouse Jr.’s invention of the automatic air brake in 1869. For surpassing Westinghouse’s patent record, 361, Kumar was honored during Wabtec’s Sept. 1 all-hands meeting.
Despite continued market challenges, Wabtec Corp. “strengthened” its financial position in second-quarter 2021, growing its 12-month backlog—“the highest since second-quarter 2019”—and posting a “year-to-date book-to-bill above 1.0,” the company reported.
Wabtec Corp. reported a “strong operational quarter” and a position of “profitable long-term growth,” due to continued signs of industry recovery, a modestly growing backlog, and its order pipeline.
In reporting its 2Q19 financials, Wabtec Corp. lowered its sales guidance but raised its 2019 GAAP cash from operations guidance to about $900 million.
Wabtec Corporation recently announced that it 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 has completed its merger with GE Transportation. The combined company, which is expected to boast revenues greater than $8 billion in 2019, has a compelling growth profile—especially as market conditions improve in its industries. Wabtec announced the transaction completion at the same time as its 4Q18 and full-year 2018 financials.
Wabtec Corp. and General Electric (GE) announced Jan. 25 that the planned merger of Wabtec and GE Transportation is expected to close by the end of February 2019, “subject to satisfaction or waiver of customary closing conditions.” The two have modified the terms of their merger agreement and have publicly filed S4 and S1 registration statements, respectively, with the U.S. Securities and Exchange Commission (SEC).
Amtrak will acquire 75 new Siemens Charger diesel locomotives for $850 million to replace aging power in its National Network locomotive fleet.
Nothing says fundamental transformation quite like Norfolk Southern’s new Network Operations Center, a murmuring, windowless bunker where the Class I has aggregated its dispatching in downtown Atlanta.
Moldovan Railways (CFM) has ordered 12 GE Transportation Evolution Series TE33AC locomotives, along with parts, training and services. This is the first locomotive order in Moldova for GE Transportation, as the country seeks to upgrade its existing fleet to haul freight trains that primarily carry grain and ore, as well as passenger trains.