Pittsburgh-based Wabtec has acquired RELCO Locomotives for $29 million in cash.
In a news release Wabtec said all conditions for the acquisition are complete and the transaction will be accretive in year one.
In 2019 RELCO had projected sales of $50 million.
Wabtec said the acquisition will expand its freight services capabilities and capacity to support growth in the remanufacturing and repair business.
RELCO is a locomotive leasing, repair and rebuilding firm with a shop in Albia, Iowa.
akronrrclub.wordpress.com 