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WabtecCorp completes acquisition of rail supplier G&B


The Associated Press July 28, 2010, 3:03PM ET

Wabtec completes acquisition of rail supplier G&B


Railcar manufacturer Wabtec Corp. said Wednesday it has completed the acquisition of rail track and signal product supplier G&B Specialties Inc. for about $35 million.

Wabtec said on July 14 it signed an deal to buy G&B and Bach-Simpson Corp., which makes electronic instruments and controls for railroads, from Global Railway Industries Ltd. for about $45 million. The Bach-Simpson acquisition is expected to be completed by Oct. 31. Wabtec expects both deals to boost earnings in the first year.

Shares of Wabtec fell 81 cents to $44.15 in afternoon trading.


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