WILMERDING, Pa., August 15, 2006 -- Wabtec Corporation (NYSE: WAB) today announced that its Wabtec Rail subsidiary has signed a $27 million contract to refurbish 103 passenger cars for high-speed trains operated by Great North Eastern Railway Limited (GNER) of London. The project will begin immediately, with deliveries scheduled for 2007-08.
"This contract represents an important milestone in the growth of our vehicle refurbishment capabilities at Wabtec Rail," said Albert J. Neupaver, Wabtec's president and chief executive officer.
Under the contract, Wabtec Rail will refurbish the interior of the cars, including new seating, luggage racks and lighting, and will paint the exterior. The work will be performed at Wabtec Rail's Doncaster, England facility.
"This investment in our fleet will deliver improved levels of comfort, reliability and customer service for passengers," said Richard McClean, GNER development director. "This is the most comprehensive package of improvements ever fitted to this type of train."
Wabtec Corporation (www.wabtec.com) is a global provider of value-added, technology-based products and services for the rail industry.
Contact: Tim Wesley at (412) 825-1543
1001 Air Brake Avenue
Wilmerding, PA 15148