Wabtec Acquires MASU’s Railway Friction Business
04 January 2022 - 9:00PM
Business Wire
Wabtec Corporation (NYSE: WAB) today announced it recently
acquired the railway friction business from MASU, a leading
manufacturer of friction products across the automotive and rail
industry. The acquisition, which has received necessary regulatory
approvals and is subject to customary closing conditions, will
expand Wabtec’s installed base and accelerate growth across its
brake product portfolio.
“MASU is a strategic acquisition for Wabtec that complements our
product portfolio and builds upon our leadership position in the
railway friction market,” said Lilian Leroux, President of Wabtec’s
Transit business. “It aligns with our growth strategy to provide
operators with innovative, scalable products that increase
productivity, utilization, and capacity. We have now
state-of-the-art friction manufacturing capabilities on every
continent and will better serve operators and car-builders around
the world, reducing operating costs while improving
performance.”
“We are excited about this acquisition, which accelerates our
long-term growth strategy in India,” said Sujatha Narayan, Senior
Vice President and Regional Leader for Wabtec in India. “We have a
strong brakes portfolio in India supplying brake systems on Indian
Railways' locomotives and LHB coaches, as well as metros. This
acquisition will strengthen Wabtec’s position as a ‘Made in India’
manufacturer, provide an attractive offering for customers, and
open new opportunities for regional and international
expansion.”
The acquisition, valued at approximately $34 million, will
strengthen Wabtec’s position as a leading rail manufacturer in
India.
About Wabtec
Wabtec Corporation (NYSE: WAB) is focused on creating
transportation solutions that move and improve the world. The
company is a leading global provider of equipment, systems, digital
solutions and value-added services for the freight and transit rail
industries, as well as the mining, marine and industrial markets.
Wabtec has been a leader in the rail industry for over 150 years
and has a vision to achieve a low- to zero-emission rail system in
the U.S. and worldwide. Visit Wabtec’s website at:
www.WabtecCorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220104005180/en/
Media Contact: Sanaj Natarajan +91 9972800477 and
Sanaj.natarajan@wabtec.com
Investor Contact: Kristine Kubacki, CFA +1 412-450-2033
and kristine.kubacki@wabtec.com
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