WILMERDING, Pa., Dec. 7 /PRNewswire-FirstCall/ -- Wabtec Corporation
(NYSE: WAB) today announced that its MotivePower subsidiary has been awarded a
contract by the Metropolitan Transportation Authority's New York City Transit
to build 28 new work train locomotives for $93 million. The contract includes
an option for 10 more locomotives for an additional $29 million, or a total of
$122 million.
The locomotives will be built at MotivePower's Boise, Idaho facility, with
work scheduled to begin on a prototype in 2006 and deliveries scheduled for
2007-09. The locomotives will contain a number of components produced by
other Wabtec subsidiaries, including braking equipment, radiators and
microprocessor controls.
"Wabtec has an established track record as a quality supplier to New York
City, and we look forward to building on that relationship with this
locomotive order," said William E. Kassling, Wabtec's chairman, president and
chief executive officer. "This project, along with our recent contract to
build new, high-horsepower commuter locomotives for Canada's GO Transit, makes
Wabtec the leading locomotive supplier in these markets and provides our
MotivePower subsidiary with a strong book of business through this decade."
The locomotives will be used for work trains, which haul equipment and
work crews throughout the New York City subway system. They will be specially
designed to meet crew safety, low-clearance and weight requirements, will have
control cabs at both ends and will be equipped with an AC propulsion system
similar to what is used on New York City Transit's new, latest-technology
subway cars.
New York City Transit operates the largest fleet of subway cars and buses
in the world, and carries more than 7 million people daily.
Wabtec Corporation (http://www.wabtec.com) is one of North America's largest
providers 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, including locomotive and freight car fleet maintenance.
The company has facilities located throughout the world. Wabtec's mission is
to be judged by its stakeholders as the world-class corporation focused on
helping its global customers compete more effectively through higher levels of
safety, quality and productivity.
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