Wabtec Completes Acquisition of Becorit GmbH, A Leading European Rail Equipment Manufacturer
WILMERDING, Pa., December 4, 2006 -- Wabtec Corporation (NYSE: WAB) has completed the acquisition of Becorit GmbH, a leading manufacturer of technology-based friction products for the European railway industry, for $52.2 million in cash. Last week, Wabtec announced that it had signed a definitive agreement to acquire the company from U.K.-based BBA Aviation plc. Wabtec expects the acquisition to be accretive immediately.
Based in Germany, Becorit has annual sales of about $30 million. Becorit manufactures a variety of brake shoes, pads and friction linings for passenger transit cars, freight cars and locomotives, including high-speed applications. The company also makes friction products for industrial markets such as mining and wind power generation. Becorit's geographic markets include Germany, Austria, Switzerland, Belgium, France and the U.K.
Wabtec Corporation (www.wabtec.com) is a global provider of value-added, technology-based products and services for the rail 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, including locomotive and freight car fleet maintenance.
Contact:
Tim Wesley at (412) 825-1543
1001 Air Brake Avenue
Wilmerding, PA 15148
Phone: 412.825.1543
Fax: 412.825.1789
