Business Services Industry
GE Transportation Systems Buys Part of Locomotive Services Firm.
Knight Ridder/Tribune Business News, July, 2001
By Peter Panepento, Erie Times-News, Pa. Knight Ridder/Tribune Business News
Jul. 27--GE Transportation Systems Inc. is buying a piece of locomotive manufacturing and services company Wabtec Corp. for $240 million -- a deal that GE officials say will help the company expand its service offerings and, in turn, sell more locomotives.
The deal announced Thursday adds Wabtec's motor coil manufacturing, engine systems, distribution systems and MPI de Mexico units to GE Transportation Systems' locomotive manufacturing and service operation.
Wabtec's locomotive service contract businesses in Barstow, Calif., and in Mexico are also included in the deal.
The move marks the latest step in GE Transportation Systems' transformation from a...
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