Wabtec completes acquisition of Tec Tran
USA: Wabtec Corp has acquired Tec Tran Corp, a North Carolina based manufacturer of hydraulic braking systems for passenger rolling stock.
Tec Tran supplies components including calipers, power units, electronic controls and brake discs for new and aftermarket applications. It has annual sales of around $10m, and Wabtec expects the acquisition to be accretive in the first year.
'With its expertise in hydraulic braking equipment, Tec Tran offers new capabilities and technology to complement our product portfolio', said Wabtec President & CEO Albert J Neupaver on July 16. 'This technology is the preferred braking system for light-rail vehicles and streetcars, which are a growing segment of the transit car market in the US. In addition, Tec Tran's products provide another way for Wabtec to help car builders meet their Buy America requirements.'