Wabtec sees broad signs of recovery - industry outlook - Brief Article

Railway Age, August, 2003

In addition to an improved freight car market, Wabtec foresees strength in other sectors. "We continue to expect a stronger locomotive market in 2004 and the beginnings of a rebound in our Transit Group in 2005," said President and CEO Gregory T. H. Davies in a July 17 statement. In this year's second quarter, the company's Freight Group sales increased 20% over the corresponding period last year.

Transit Group sales dropped 37%, "reflecting the completion of a contract to supply components for New York City subway cars and lower aftermarket sales."