Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 29, 2024

Article Excerpt

WABTEC CORPORATION, $200.62, symbol WAB on New York, provides equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as mining, marine and industrial markets. Wabtec is short for Westinghouse Air Brake Technologies. The company has operated in the rail industry for over 150 years. It has two operating segments: Freight (72% of revenue) and Transit (28%). On October 21, 2024, Wabtec announced a $405-million contract to supply Evolution Series ES44ACi locomotives for Kazakhstan Temir Zholy (KTZ), the Kazakhstan national railway. KTZ already has 451 of Wabtec’s Evolution Series freight locomotives in its fleet. The first deliveries are scheduled for 2025. Meanwhile, in November 2024, the company announced that its Transit segment has acquired two European transit technology companies. Wabtec paid $110 million for the two firms. Fanox is a Spanish provider of specialized relays for onboard train operations. Its acquisition strengthens Wabtec’s electrical systems business in the transit market. The other acquired company is Kompozitum, a Slovakian-based company…