Wabtec reports record sales for 2011
USA: Wabtec Corp has announced record sales of $1·97bn for 2011, up from $1·51bn in 2010. The company generated gross profit of $570m last year, up from $449m in 2010, and the year-end backlog was 44% higher at $1·55bn. Net debt was $109m.
'Our company finished the year strong, and we are well positioned for another record performance in 2012', said President & CEO Albert J Neupaver on February 21. 'With our diversified business model, balanced growth strategies and rigorous application of the Wabtec Performance System, we will continue to drive Wabtec to take full advantage of its growth opportunities around the world.'