Wabtec Acquires Melett

12/4/17

WILMERDING, Pa., Dec. 04, 2017 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE:WAB) has acquired Melett Limited, a leader in the design, manufacture and supply of high-quality turbochargers and replacement parts to the turbocharger aftermarket. Headquartered in the United Kingdom, Melett has annual sales of about $40 million.

With operations in the UK, Europe, North America and China, Melett provides turbochargers and repair parts to automotive turbocharger reconditioning and remanufacturing customers in more than 100 countries around the world.

Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Melett complements both our overall turbocharger strategy and our product portfolio through its globally recognized brand and comprehensive aftermarket solutions. It provides our existing turbocharger business with an extensive and low-cost manufacturing and distribution base in Europe and China. This acquisition represents an excellent strategic fit that expands our aftermarket presence and provides direct access to key international markets.”

Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. 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.

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