Wabtec sees stronger equipment market

Railway Age, August, 2004

An 18% growth in sales propelled Wabtec to higher profits in the second quarter. Net income was $9 million, compared with $5.5 million in second-quarter '03. "Throughout the year, we nave seen sustained growth in freight rail traffic, and the industry's demand for new freight cars and locomotives continues to be strong," said Wabtec Chairman President and CEO William E.

Kassling. He said aftermarket growth n the freight and transit markets had started to improve although it's below historical peaks. The company's Freight Group sales rose 14% from year-earlier levels driven by demand for car and locomotive components. Transit group revenues were 30% ahead of the corresponding period last year, mainly because of aftermarket sales growth.