Wabtec signs $60 million N.Y. subway contract

Wabco Transit, a division of Wabtec Corp., signed a contract to supply brakes, couplers and current collectors for New York City suway cars to be built by Alstom and Kawasaki. The contract is worth about $60 million for the base order of 660 cars. If New York City exercises options for an additional 1,040 cars, the total value of this order would be about $150 million. Design work on the equipment has already started, with prototypes to be delivered in 2004.