Pittsburgh-based Wabtec Corporation’s Transit Business recently purchased Spanish-based Fanox Electronic, a designer and manufacturer of protection relays and communication devices for Medium-Voltage applications, and Slovakian-based Kompozitum, a technical machined carbon and graphite components company. The combined purchase price was $110 million.
The two companies will become part of the Transit Business.
“We are excited about bringing the capabilities of Fanox and Kompozitum to our Transit Business,” Pascal Schweitzer, Wabtec Transit president, said. “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.”
Fanox will expand Wabtec’s customer base and recurring revenue by strengthening the production of specialized relays for on-board train operations and other industrial applications.
Kompozitum will improve Wabtec’s pantograph portfolio’s manufacturing efficiency, quality, and competitiveness and will open new markets for its carbon and graphite solutions.
Wabtec is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries. It also serves the mining, marine and industrial markets. Wabtec has served the rail industry for more than 150 years.