ITALY: Wabtec has signed a definitive agreement to acquire Italian braking equipment maker POLI SpA for €53m. The transaction is expected to close in the third quarter of the current year.
POLI's range of products includes disc and tread brakes, and pneumatic valves to UIC standards. It has 500 employees at sites in Italy and Macedonia, with annual sales of about €30m, primarily in Europe.
'We expect POLI to be a strong strategic fit,' said Wabtec President & CEO Albert J Neupaver. 'The combination of Wabtec's existing products and technological expertise with POLI's European-approved components positions us for future growth in key international markets.'