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Wabtec Forms Joint Venture to Manufacture Brake Equipment for Chinese Rail Market

Posted on: Tuesday, 7 April 2009, 07:48 CDT

WILMERDING, Pa., April 7 /PRNewswire-FirstCall/ -- Wabtec Corporation (NYSE: WAB) has formed a 50-50 joint venture in China to manufacture brake equipment for the Chinese rail market. The joint venture is owned by Wabtec and Shenyang Locomotive and Rolling Stock Railways Brakes Co., Ltd., the largest manufacturer of locomotive and freight car brake equipment in China.

"This investment builds on our existing presence in China, the largest rail market outside of North America," said Albert J. Neupaver, Wabtec's president and chief executive officer. "Our capabilities and technology will be valuable assets in this rapidly growing market."

The joint venture company, Shenyang CNR Wabtec Railway Brake Technology Company, Ltd., will produce pneumatic control valves and other braking related equipment for freight car builders and overhaulers in China.

"We expect to have a strong impact on the Chinese market through the joint venture's advanced technology, lean production and high-quality products," said FANG Zhijian, chairman and president of Shenyang Locomotive and Rolling Stock Railways Brakes.

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.

Website: www.wabtec.com

SOURCE Wabtec Corporation

Source: PR Newswire

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