Westinghouse Air Brake Company announced that it has postponed its planned announcement to merge with MotivePower Industries.
WABCO says there are three reasons for the delay: market volatility in its and MotivePower's stock, shareholder reaction and shareholders need additional time to evaluate the deal. The meeting of WABCO shareholders to vote upon the merger was scheduled for August 23; no date has yet been set for a new meeting.
Westinghouse Air Brake Company is North America's largest manufacturer of equipment for locomotives, railway freight cars and passenger transit vehicles. The Company says its mission is “to be the leading supplier of world class products and services to the railroad freight and transit industries, helping its customers to achieve higher levels of safety and productivity so they can compete more effectively.” MotivePower manufactures locomotives as well as other equipment for freight and passenger rail vehicles.
Additional information on Westinghouse Air Brake Company is available by contacting its Website at www.wabco-rail.com.