Westinghouse Air Brake Technologies : 12/16/2015 WABTEC announces PTC contracts worth $45 million with Metra
December 16, 2015 at 07:35 pm IST
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WILMERDING, PA, December 16, 2015 - Wabtec Corporation (NYSE: WAB) has signed contracts worth about $45 million to provide equipment and services for a Positive Train Control (PTC) system for the Northeast Illinois Regional Commuter Railroad Corp. (Metra). The contracts are with Metra and Parsons Transportation Group (PTG).
Metra operates commuter rail service in Chicago and its surrounding suburbs, serving more than 100 communities at 241 rail stations, with a fleet of 146 locomotives, 843 passenger cars and 185 electric-propelled cars.
Under the contracts, Wabtec will provide Interoperable Electronic Train Management System (I-ETMS®) equipment, including kits and replacement components. In addition, Wabtec will provide its TMDS® Back Office System, as well as track data, training and related services. Metra's PTC system will be fully interoperable with PTC systems being implemented by Class I railroads in the U.S.
Raymond T. Betler, Wabtec's president and chief executive officer, said: 'We have worked with Metra for several years to develop and design their PTC program, and we are pleased to help in its implementation. Wabtec continues to demonstrate a unique and industry-leading ability to assist customers in meeting their PTC requirements.'
Betler also commented on the recent passage of the U.S. transportation funding bill, a five-year bill now known as the Fixing America's Surface Transportation (FAST) Act: 'The new bill includes several provisions that should be good for the U.S. transit industry and, therefore, for Wabtec. For example, this is the first multi-year bill passed in a decade, and that means transit agencies should have a longer-term planning horizon for potential projects. In addition, the bill calls for a 10.2 percent funding increase in year one and further increases in future years. When coupled with our strong backlog of transit projects around the world, the new bill is another reason to be optimistic about Wabtec's long-term growth opportunities in the transit market.'
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.
Westinghouse Air Brake Technologies Corporation is one of the world's leading suppliers of value-added technological equipment, systems and services for the transportation sector. The activity is aorganized primarily around 4 families of products and services:
- electronics and special products: including electronic positive train control and pneumatic braking systems, event recorders, monitoring equipment, couplings, gears, couplers, air compressors and heat exchangers;
- transit products: heating, ventilation and air conditioning equipment, doors for buses and metro cars, pantographs, window assemblies, couplers, traction motors, etc.;
- brake components and friction products;
- refurbishment, overhaul and construction services: suburban locomotive construction and switching, overhaul and refurbishment of buses, subway cars and locomotives.
Net sales per market are divided between rail freight transport (71.9%), bus, metro and high-speed train transport (28.1%).
Net sales are distributed geographically as follows: the United States (47%), North America (9.1%), Europe (17%), South America (3.6%), Africa (1.1%) and other (22.2%).