WILMERDING, Pa., Aug. 6 /PRNewswire-FirstCall/ -- Wabtec Corporation
(NYSE: WAB) has expanded its presence in South Africa by establishing joint
ventures to manufacture, supply and service its broad range of products in the
region.
'Wabtec has provided products -- from brakes shoes to electronic braking
-- to the African market for many years,' said Albert J. Neupaver, Wabtec's
president and chief executive officer. 'By establishing a local presence in
South Africa, we are making a commitment to expand our production and service
capabilities in this growing market. We believe customers will benefit from
faster response time and direct access to all of Wabtec's products and
services.'
Andrae Nieuwoudt will serve as managing director of the joint ventures,
called Wabtec South Africa and FIP Brakes South Africa (FIPSA). Sibanye
Brakes of South Africa is the minority partner in both. Based at Spartan
Extension, Kempton Park in Johannesburg, the joint ventures meet South
Africa's Broad-Based Black Economic Empowerment (B-BBEE) requirements.
Wabtec South Africa will manufacture, assemble and service Wabtec products
in the region, including locomotive and freight car braking equipment, draft
gears, transit equipment and electronics. The unit will also provide
installation of Wabtec's electronically controlled pneumatic (ECP) braking
equipment on locomotives and freight cars for Transnet Freight Rail, the
state-owned railway in South Africa. FIPSA will manufacture friction products
and provide customers with access to worldwide technological and research
capabilities, through Wabtec's other friction operations in Europe, the U.S.,
India and Australia.
Wabtec Corporation is a global provider of value-added, technology-based
products and services for the rail industry. Through its subsidiaries, the
company manufactures a range of products for locomotives, freight cars and
passenger transit vehicles. The company also builds new switcher and commuter
locomotives, and provides aftermarket services. The company has facilities
located throughout the world.
SOURCE Wabtec Corporation
