PITTSBURGH — Wabtec Corporation announced Tuesday it has acquired Fanox and Kompozitum, two companies slated to benefit the train car manufacturer’s business unit, for $110 million.
The acquisitions are aimed to position Wabtec’s business unit for long-term profitable growth by expanding its capabilities, product portfolio and customer base.
“We are excited about bringing the capabilities of Fanox and Kompozitum to our Transit Business,” said Pascal Schweitzer, President Wabtec Transit. “These acquisitions align with our strategy by bringing in technologies that are complementary to our product portfolio, positioning the business for accelerated, profitable revenue growth. It also enhances Wabtec’s mission to provide our customers with next-generation solutions that improve efficiency, performance, and reliability.”
The company said Fanox will strength its existing capabilities as a leader in the production of specialized relays for on-board train operations and other industrial applications, expanding its customer base and recurring revenue. The addition of Kompozitum allows Wabtec to improve the manufacturing efficiency, quality and competitiveness of its industry leading pantograph portfolio, while opening new markets for its carbon and graphite solutions.
The two companies will join Wabtec as part of its Transit Business.
Download the FREE WPXI News app for breaking news alerts.
Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW