Wabtec to Purchase French Equipment Maker

Pennsylvania-based Wabtec has announced plans to acquire Faiveley Transport S.A., a global provider of integrated systems and services for the railway industry.

Wabtec will pay about $1.8 billion Faiveley and assume its debt. Faively has annual sales of about $1.2 billion.

The merged company will create one of the world’s largest rail equipment companies, with revenues of about $4.5 billion and a presence in all key freight rail and passenger transit markets worldwide.

“Faiveley Transport is an excellent strategic fit, expanding our geographic presence considerably, broadening our product and service capabilities, and enhancing our technology and innovation initiatives, all of which will make us a more efficient global competitor,” said Albert J. Neupaver, Wabtec’s executive chairman. “We are excited by the compelling opportunities and synergies created from the combination of two rail industry leaders with historic ties, a commitment to growth and efficiency, and a focus on technology, quality and customer service. We would be pleased to welcome the Faiveley family as a long-term Wabtec shareholder with representation on our board of directors.”

Faiveley headquarters in Gennevilliers, France, will become Wabtec’s global transit headquarters and use the Faiveley Transport brand name.

Founded more than 90 years ago, Faiveley Transport has more than 5,700 employees in 24 countries. Wabtec is based in Wilmerding, Pennsylvania.

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