This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wabtec Acquires Mors Smitt, A Manufacturer Of Electronics For Rail And Industrial Markets

WILMERDING, Pa., June 14, 2012 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) has acquired Mors Smitt Holding, a leading manufacturer of electronic components for rail and industrial markets, from the investment company Eurazeo PME, for about $88 million.  Mors Smitt has annual sales of about $60 million, and operations in The Netherlands, the United Kingdom, the U.S., France, China and Hong-Kong.  Wabtec expects the transaction to be accretive in the first year.

"Mors Smitt provides a variety of safety-critical components and will be a strategic complement to our existing rail and industrial product lines," said Albert J. Neupaver, Wabtec's president and chief executive officer.  "The company's global presence adds to our international footprint with established manufacturing and distribution capabilities."

With roots to 1898, Mors Smitt manufactures electronic relays, measurement devices and controls for railway rolling stock and signaling, and a variety of other applications such as power generation, petro-chemical and water treatment plants.  Mors Smitt has about 350 employees.

Wabtec Corporation is a global provider of value-added, technology-based products and services primarily 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 also builds new switcher and commuter locomotives, and provides aftermarket services. Wabtec has facilities located throughout the world.


SOURCE Wabtec Corporation
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs