Wabtec Corp. announced today that it has completed its $300-million purchase of Standard Car Truck, an Illinois-based rail parts supplier.
Standard Car Truck has about 550 employees, nine manufacturing facilities in Illinois, Ohio and Pennsylvania, and offices in Malaysia for sourcing and in Scotland for research and development. The company, which makes engineered components for freight cars and locomotives, expects to report annual sales of about $225 million in 2008.
Wabtec views the purchase as a good strategic fit christmas inflatables canada. "The company will enable us to provide freight car customers with a broader, valued-added package of truck components and assemblies, and we see opportunities to build on Standard Car Truck's existing aftermarket and international presence," said Albert J. Neupaver, Wabtec's president and CEO.