WILMERDING, Pa., Sept. 8, 2011 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) said its MotivePower subsidiary has signed contracts to build locomotives for commuter rail projects in Central Florida and Seattle. The contracts are valued at about $30 million, and the locomotives are expected to be delivered in 2012-13.
"These orders demonstrate that transit and commuter rail agencies continue to invest in new and expansion projects, and we are pleased to play a vital role in their plans," said Albert J. Neupaver, Wabtec's president and chief executive officer.
For the Central Florida project, MotivePower will provide seven remanufactured locomotives to the Florida Department of Transportation (FDOT) for "SunRail," a new commuter rail line that will run along a 61.5-mile stretch of existing freight rail tracks. The 3,000 horsepower locomotives will feature MotivePower's streamlined cab and will be fully compliant with EPA regulations for remanufactured locomotives. "SunRail" is a $1.04 billion project that will be funded by FDOT, the Federal Transit Administration, the city of Orlando and several Florida counties, with service expected to begin in 2013. FDOT has an option to purchase up to an additional 13 locomotives as ridership grows.
For the Seattle project, MotivePower will provide three locomotives to Sound Transit, which operates train and bus service in the region. These 4,000 horsepower locomotives will be equipped with Tier 3-compliant engines. Sound Transit plans to expand its commuter rail service in 2013.Wabtec Corporation ( www.wabtec.com) is a global provider of value-added, technology-based products and services for the rail and transit industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company has facilities located throughout the world. MotivePower ( www.motivepower-wabtec.com) is an industry leader in the design, manufacture and re-manufacture of diesel-electric locomotives. SOURCE Wabtec Corporation
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV