WILMERDING, Pa., March 14, 2017 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE:WAB) has acquired Aero Transportation Products (ATP), a manufacturer of engineered freight car components. The company has annual sales of about $40 million.
ATP manufactures hatch covers and outlet gates for freight cars, which adds to Wabtec’s portfolio of engineered products. ATP’s sales are mainly in the U.S., so it expects to benefit from Wabtec’s worldwide presence in key freight markets such as Australia and South America.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “ATP's long history and commitment to delivering quality products and service to its customers, combined with Wabtec's commitment for growth, makes it a good strategic fit. In addition, ATP’s engineering expertise, technology and proprietary designs will be a strong addition to our existing product development efforts.”
Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. 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.