Wabtec completes purchase of POLI

POLI: Wabtec Corp announced on July 1 that it had completed it acquisition of braking equipment manufacturer POLI SpA for €53m. POLI employs 500 people in Italy and Macedonia, and has annual sales of €30m, primarily in Europe.

'We will begin immediately to integrate our existing products and technological expertise with POLI's European-approved components,' said Wabtec President & CEO Albert J Neupaver. 'We believe this combination positions us for future growth in key international markets and expect POLI to be a strong strategic fit.'