Wabtec completes purchase of G&B Specialties

Written by jrood

Wabtec Corporation has completed the acquisition of G&B Specialties, Inc., from Global Railway Industries Ltd. for about $35 million. On July 14, Wabtec said that it had signed an agreement to acquire G&B Specialties and Bach-Simpson Corporation from Global Railway Industries for about $45 million. The Bach-Simpson acquisition is expected to be completed by Oct. 31. Wabtec expects the transactions to be accretive in the first year.

With revenues of about $20
million, G&B Specialties manufactures railroad track and signaling
products. Bach-Simpson has revenues of about $10 million, and designs and
builds electronic instrumentation devices for rail and transit markets. Based
in Berwick, Pa., G&B manufactures a variety of track and signaling
products, including electric switch components, switch machine layouts,
electric locks, junction boxes and rail gear equipment. The company was founded
in 1979 and has about 100 employees.

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