Wabtec Forms JV in China to Manufacture Products for Power Generation Market |
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Wabtec Corporation
1001 Air Brake Avenue
Wilmerding, PA, 15148
USA
Press release date: October 12, 2010
WILMERDING, PA, October 12, 2010 -Wabtec Corporation (NYSE: WAB) has formed a joint venture in China to manufacture transformer oil coolers, generator coolers and related products for the power generation market. The products are expected to be sold in China and other Asian markets.
"We continue to grow our presence in China, one of the world's largest and fastest-growing markets for our products," said Albert J. Neupaver, Wabtec's president and chief executive officer. "This joint venture provides a way to leverage the technology and expertise of Unifin International, which we acquired in 2009."
The joint venture, Hubei Dengfeng Unifin Electrical Equipment Cooling System Co., Ltd., is owned by Wabtec and Dengfeng, which has operational and marketing expertise in the Chinese power generation market.
Wabtec Corporation is a global provider of value-added, technology-based products and services for rail and other industrial markets. 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.
Tim Wesley
Phone: 412.825.1543
E-mail: twesley@wabtec.com
Website: www.wabtec.com
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