The strategic combination will create one of the world’s largest public rail equipment companies, with revenues of about $4.5 billion and a presence in all key freight rail and passenger transit geographies worldwide.
Wabtec Corp. signed a definitive share purchase agreement to acquire from members of the Faiveley family approximately 51% of Faiveley Transport S.A., a global provider of value-added, integrated systems and services for the railway industry with annual sales of about $1.2 billion.
On July 27, Wabtec announced that it had made an irrevocable offer to acquire these shares. Faiveley Transport has now completed required labor group consultations and the majority shareholders have accepted the Wabtec purchase offer.
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Wabtec has also entered into a definitive tender offer agreement with Faiveley Transport and a definitive shareholders agreement with the majority shareholders of Faiveley Transport. Closing of the transactions is subject to various customary conditions, including completion of remaining regulatory requirements.
The strategic combination of Wabtec and Faiveley Transport will create one of the world’s largest public rail equipment companies, with revenues of about $4.5 billion and a presence in all key freight rail and passenger transit geographies worldwide.
Wabtec Corp., with more than 13,000 employees in more than 20 countries and annual sales of about $3.3 billion, is a global provider of value-added, technology-based products and services for freight rail, passenger transit and other industrial segments.
The company manufactures a range of products for locomotives, freight cars and passenger transit vehicles, new switcher and commuter locomotives and provides aftermarket services.
Amtrak will open grant applications March 23 for community projects near the Frederick Douglass Tunnel alignment in Baltimore as part of a $50 million investment tied to the B&P Tunnel Replacement Program.
The Denmark Station $2.3 million construction investment project includes a new 280-foot concrete boarding platform, built eight inches above the top of rail, for improved accessibility for passengers with disabilities and families with small children and much more.
Caltrain and its partners have implemented safety improvements at specific locations in response to known risk conditions, operational needs, and available funding since the agency’s founding.
On a recent episode of METROspectives, METRO Magazine’s Executive Editor Alex Roman sat down with Ana-Maria Tomlinson, Director of Strategic & Cross-Sector Programs at the CSA Group, to explore a bold initiative aimed at addressing those challenges: the development of a National Code for Transit and Passenger Rail Systems in Canada.
Competitive FTA grants will support accessibility upgrades, family-friendly improvements, and cost-efficient capital projects at some of the nation’s oldest and busiest transit hubs.
The 3.92-mile addition will soon take riders west beyond its current Wilshire and Western station in Koreatown, continuing under Wilshire Boulevard through neighborhoods and communities including Hancock Park, Windsor Square, the Fairfax District, and Carthay Circle into Beverly Hills.
Under the plan, all long-distance routes will transition to a universal single-level fleet, replacing today’s mix of bi-level and single-level equipment.
