MotivePower Industries
 |
|
| Public | |
| Traded as | : WAB S&P 400 Component |
| Industry | Rail industry |
| Founded | 1999 via merger |
| Headquarters | Wilmerding, Pennsylvania, USA |
|
Number of locations
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Various : USA, Europe, Canada, Mexico, Australia, South America. ~50 plants |
|
Key people
|
Albert J. Neupaver (Executive Chairman) Raymond T. Betler (President and CEO) Patrick D. Dugan (Senior Vice President and CFO) |
| Products | Rail braking systems, locomotives, air condition and heat exchanging systems, other rolling stock components |
| Services | Locomotive servicing, overhaul and repair |
| Revenue |  US$ 3,307.998 million (2015) |
|
US$ 607.567 million (2015) |
|
|
US$ 398.628 million (2015) |
|
| Total assets |
US$ 3,300.335 million (2015) |
| Total equity |
US$ 1,701.339 million (2015) |
|
Number of employees
|
13,000+ |
| Divisions | Motive Power Inc. |
| Website | www |
Wabtec Corporation (derived from Westinghouse Air Brake Technologies Corporation) is an American company formed by the merger of the Westinghouse Air Brake Company (WABCO) and MotivePower Industries Corporation in 1999. It is headquartered in the Pittsburgh suburb of Wilmerding, Pennsylvania.
Wabtec manufactures products for locomotives, freight cars and passenger transit vehicles, and builds new locomotives up to 4,000 horsepower (3 MW).
The company's origins go back as far as 1869 with the foundation of the Westinghouse Brake Company. That company (also known as WA&B later as WABCO) became independent in 1990 via a management buy-out, and went public in 1995. Another company, WABCO Vehicle Control Systems, also created from the Westinghouse Brake Company, is independent of Wabtec and was spun off by American Standard Companies (the ultimate owner) in 2007.
The other company forming Wabtec, MotivePower Industries, can be traced back to 1972, with the formation of a Rail Systems Group by the Morrison Knudsen group and the purchase of a manufacturing facility in Boise. In 1994 Morrison Knudsen created a subsidiary MK Rail Corporation; during the first half of the same decade the MK Rail group expanded with the acquisition of various other locomotive component companies. In 1996, MK Rail group is separated from the parent Morrison Knudsen and adopted the name MotivePower Industries Corporation. In the later half of the 1990s further companies were acquired – again all in the locomotive components business.
In March 2010, Wabtec announced that it had purchased Xorail, a railway signaling design and construction company.
In July 2010, Wabtec announced that it had purchased two manufacturers of rail equipment, Bach-Simpson Corp. and G&B Specialties. The companies produce locomotive components and track products respectively. The purchase price was reportedly US$48 million.
In November 2010, Wabtec acquired all of the assets of Cleveland, Ohio, based manufacturer of traction motors and electric coils for rail and power generation markets Swiger Coil Systems.
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Wikipedia