USA: Wabtec Corp has announced the expansion of its remanufacturing and repair capabilities with the acquisition of RELCO Locomotives for $29m.
RELCO Locomotives is an established company in the leasing, rebuilding, and repair sector, with operations in Albia and Cedar Rapids, Iowa. It has projected sales for 2019 of around $50m.
‘This acquisition will unlock tremendous value for our customers, employees and shareholders’, said Wabtec President & CEO Rafael Santana on January 8. ‘The complementary combination of our portfolios will create aftermarket services growth and the development of new, innovative solutions to drive improved asset utilisation and reduced operating cost for customers.’
‘By leveraging Wabtec’s robust remote monitoring and diagnostics and predictive maintenance capabilities, as well as our focus on lean continuous improvement, we will build upon RELCO’s deep product offering, track record of service quality and engineering creativity for locomotive modernisations’, said Pascal Schweitzer, Wabtec’s Group President, Freight Global Services.