Wabtec – WAB – Acquires Mors Smitt

Wabtec Corporation (NYSE: WAB) has acquired Mors Smitt Holding, a leading manufacturer of electronic components for rail and industrial markets, from the investment company Eurazeo PME, for about $88 million. Mors Smitt has annual sales of about $60 million, and operations in The Netherlands, the United Kingdom, the U.S., France, China and Hong- Kong. Wabtec expects the transaction to be accretive in the first year.

“Mors Smitt provides a variety of safety-critical components and will be a strategic complement to our existing rail and industrial product lines,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “The company’s global presence adds to our international footprint with established manufacturing and distribution capabilities.” With roots to 1898, Mors Smitt manufactures electronic relays, measurement devices and controls for railway rolling stock and signaling, and a variety of other applications such as power generation, petrochemical and water treatment plants. Mors Smitt has about 350 employees.

About  Wabtec – WAB

Westinghouse Air Brake Technologies Corporation (WAB), doing business as Wabtec Corporation, is a providers of value-added, technology-based equipment and services for the global rail industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. WAB also builds new switcher and commuter locomotives, and provides aftermarket services. WAB has facilities located throughout the world.

It provides its products and services through two business segments: the Freight Group and the Transit Group, both of which have different market characteristics and business drivers. Effective November 18, 2011, Wabtec acquired Fulmer Company. Effective November 3, 2011, WAB acquired Bearward Engineering, a manufacturer of cooling systems and related equipment for power generation and other industrial markets. On June 29, 2011, the Company acquired an aftermarket transit parts business from GE Transportation, a parts supply business for propulsion and control systems for the passenger transit car aftermarket in North America. On February 25, 2011, the Company acquired Brush Traction Group, a provider of locomotive overhauls, services and aftermarket components.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.