Wabtec buys signalling supplier Xorail
USA: Wabtec Corp announced its acquisition of signal engineering and design firm Xorail for $40m in cash on March 15.
Founded in 1990 as Southwest Signal Engineering Company, Xorail now has annual sales of $40m. It is based in Jacksonville, Florida, and has 275 employees at 10 satellite offices throughout North America.
'Xorail's engineering and wayside capabilities are a good fit with our existing railway electronics business', said Wabtec President & CEO Albert J Neupaver. 'In addition, these capabilities position Wabtec for a larger role as the rail industry implements positive train control technology over the next several years.'