Wabtec Acquires Gerken Group, A Leading Manufacturer Of Carbon/Graphite Products
WILMERDING, Pa., Aug. 02, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE:WAB) has acquired Gerken Group SA, a leading manufacturer of specialty carbon and graphite products for rail and other industrial applications. The company has annual sales of about $40 million.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Gerken’s range of specialty products expands our capabilities with existing customers and in new markets. The company will also be a good strategic fit with other Wabtec divisions, including Fandstan and Fulmer, and with our friction businesses.”
Founded more than 80 years ago, Gerken manufactures a variety of carbon brushes and strips, graphite and related products used in railway traction, power generation and other industrial markets. The company’s sales are primarily in the aftermarket and outside of North America.
Wabtec Corporation is a global provider of value-added, 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.
Tim Wesley Phone: 412.825.1543 E-mail: twesley@wabtec.com Website: www.wabtec.com Wabtec Corporation 1001 Air Brake Avenue Wilmerding, PA 15148
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