WILMERDING, Pa., September 12, 2006 -- Wabtec Corporation (NYSE: WAB) today announced that R. Mark Cox has been named vice president of Corporate Development, effective immediately. Cox, 38, has 11 years of experience in mergers and acquisitions, most recently as director of Business Development for the Electrical Group of Eaton Corp.
"We're excited that Mark has joined our Executive Office team, and we expect him to hit the ground running," said Albert J. Neupaver, Wabtec's president and chief executive officer. "We believe that acquisitions, joint ventures and strategic alliances will be an important part of Wabtec's future growth, and Mark's experience in these activities makes him the ideal person to lead our efforts."
Cox joined Eaton in 2002 and led a team that was responsible for all facets of the Electrical Group's acquisitions, including identifying targets, valuation, negotiation and due diligence. Prior to joining Eaton, Cox spent seven years as an investment banker with UBS Warburg, Prudential and Stephens, primarily focused on industrial and capital goods companies.
"With its strong balance sheet and cash flow, Wabtec has the ability to invest in a number of growth opportunities," Cox said. "I look forward to helping the company capitalize on those opportunities in ways that increase shareholder value."
A native of Virginia, Cox has an MBA and a Bachelor's degree in Finance and Marketing, both from the University of Virginia. He and his wife, Susan, have two children and live in Sewickley, Pa.
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.
Tim Wesley at (412) 825-1543
1001 Air Brake Avenue
Wilmerding, PA 15148