WILMERDING, Pa., May 09, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE:WAB) has completed the acquisitions of Unitrac Railroad Materials and Pride Bodies, which provide a variety of track-related products and services. The companies have combined annual sales of about $45 million.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Railroads in the U.S. spend up to 70 percent of their capital on infrastructure, and these acquisitions demonstrate Wabtec’s expansion in this key market. Unitrac and Pride Bodies will be a good strategic fit with our existing capabilities, which now represent more than $100 million of annual revenues.”
Based in Tennessee, Unitrac is a leading designer and manufacturer of railroad track products such as turnouts, panels and frogs. The company’s customers include Class I and short-line railroads, and transit agencies throughout North America.
Based in Ontario, Pride Bodies equips rail and utility vehicles with custom rail gear, cranes, air systems and lighting. Its custom aluminum bodies enable significantly increased payloads on heavy- and medium-duty vehicles used in rail and utility maintenance projects.
Wabtec’s acquisition of companies such as G&B Specialties and Track IQ in recent years has resulted in a successful expansion into track-related products and services.
Wabtec Corporation is a global provider of value-added, technology-based products and services for rail and other industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.