Wabtec to Benefit From Fanox & Kompozitum Buyout: Here's How [Yahoo! Finance]
Westinghouse Air Brake Technologies Corporation (WAB)
Last westinghouse air brake technologies corporation earnings: 2/18 06:58 am
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Source: Yahoo! Finance
Wabtec is purchasing the two companies for a $110 million cash transaction, financed through cash on hand and a revolving credit facility. The two companies will join Wabtec's Transit business (which recently reported third-quarter 2024 net sales of $733 million, up 9.6% year over year due to strong aftermarket sales. The segmental adjusted operating margin increased to 12.8% from 12.5% in the third quarter of 2023). Pascal Schweitzer, president at Wabtec Transit, stated, “We are excited about bringing the capabilities of Fanox and Kompozitum to our Transit Business. These acquisitions align with our strategy by bringing in technologies that are complementary to our product portfolio, positioning the business for accelerated, profitable revenue growth. It also enhances Wabtec's mission to provide our customers with next-generation solutions that improve efficiency, performance, and reliability.” The inclusion of Fanox and Kompozitum is expected to be immediately accretive to WAB
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WAB
Earnings
- 10/23/24 - Beat
WAB
Sec Filings
- 11/19/24 - Form 4
- 11/14/24 - Form SC
- 11/12/24 - Form 4
- WAB's page on the SEC website