Wabtec Completes Purchase of Bach-Simpson
WILMERDING, Pa., Aug. 20 - Wabtec Corporation (NYSE:WAB) has completed the previously announced acquisition of Bach-Simpson Corporation from Global Railway Industries Ltd. (GBI: TSX) for about $13 million. Wabtec expects the transaction to be accretive in the first year.
With revenues of about $10 million, Bach-Simpson designs and builds electronic instrumentation devices for rail and transit markets.
Based in London, Ontario, Bach-Simpson is a leading supplier of safety-related instrumentation for locomotives and transit cars, such as event data recorders and speed indicators. Founded in 1946, the company's customers include railroads, transit authorities and original equipment builders of locomotives and transit cars. Bach-Simpson has about 40 employees.
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.
Website: www.wabtec.com
Source: Wabtec Corporation
CONTACT: Tim Wesley, Wabtec Corporation, +1-412-825-1543, twesley@wabtec.com
Web Site: www.wabtec.com/
