Business News
Wabtec Expands Presence in South Africa
2008-08-06 07:16:00
Wabtec Expands Presence in South Africa
WILMERDING, Pa., Aug. 6 /EMWNews/ -- Wabtec Corporation (NYSE: WAB) has expanded its presence in South Africa by establishing joint ventures to manufacture, supply and service its broad range of products in the region. "Wabtec has provided products -- from brakes shoes to electronic braking -- to the African market for many years," said Albert J. Neupaver, Wabtec's president and chief executive officer. "By establishing a local presence in South Africa, we are making a commitment to expand our production and service capabilities in this growing market. We believe customers will benefit from faster response time and direct access to all of Wabtec's products and services." Andrae Nieuwoudt will serve as managing director of the joint ventures, called Wabtec South Africa and FIP Brakes South Africa (FIPSA). Sibanye Brakes of South Africa is the minority partner in both. Based at Spartan Extension, Kempton Park in Johannesburg, the joint ventures meet South Africa's Broad-Based Black Economic Empowerment (B-BBEE) requirements. Wabtec South Africa will manufacture, assemble and service Wabtec products in the region, including locomotive and freight car braking equipment, draft gears, transit equipment and electronics. The unit will also provide installation of Wabtec's electronically controlled pneumatic (ECP) braking equipment on locomotives and freight cars for Transnet Freight Rail, the state-owned railway in South Africa. FIPSA will manufacture friction products and provide customers with access to worldwide technological and research capabilities, through Wabtec's other friction operations in Europe, the U.S., India and Australia. Wabtec Corporation is a global provider of value-added, technology-based products and services for the rail industry. 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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