WILMERDING, Pa., June 29, 2012 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) has signed contracts worth about $25 million to provide components, including on-board Positive Train Control (PTC) equipment, for 50 new transit cars being built by Hyundai-Rotem. The cars, which will be used on new commuter rail lines being built by Denver Transit Partners, are scheduled to be delivered in 2014.
Several Wabtec units will provide the equipment for the cars: Wabtec Passenger Transit (brakes and couplers), Wabtec Railway Electronics (PTC equipment), Bach-Simpson (event recorders) and Vapor Stone (doors).
"We're pleased to be working with Denver Transit Partners and Hyundai-Rotem on this important project," said Albert J. Neupaver, Wabtec's president and chief executive officer. "This demonstrates the diversity of our capabilities and the integrated role that we are positioned to play."
Previously, Wabtec announced a separate, $63 million contract with Denver Transit Partners to provide the dispatching and operations control systems, wayside signaling and communications systems, and related integration and project management services for the new lines.Known as Eagle P3, Denver's commuter rail project includes three new lines with more than 36 miles of track and is expected to be completed in 2016. The program is part of a 12-year, multi-billion-dollar public transportation expansion plan in the region. The Denver train control system will meet the requirements of the U.S. Rail Safety Improvement Act of 2008, and uses PTC products that Wabtec is providing to Class I railroads and other commuter rail systems. As such, the Denver system will be fully compatible with other PTC installations in the U.S. Wabtec Corporation is a global provider of technology-based products and services for rail and other industrial markets. 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.
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