Wabtec Finalizes Acquisition of Dellner Couplers

PITTSBURGH--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) announced today that it completed the acquisition of Dellner Couplers, a Sweden-based global leader in highly engineered safety-critical train connection systems and services for passenger rail rolling stock. This acquisition brings highly attractive and complementary technologies to Wabtec and positions the Company for accelerated, profitable growth, while strengthening its portfolio of mission-critical passenger rail systems.

“The addition of Dellner Couplers marks a major step forward in strengthening our Transit business and expanding our portfolio of offerings for this segment,” said Rafael Santana, President and CEO of Wabtec. “The combination of our expertise and global reach will enable us to deliver more innovative, reliable and sustainable solutions to the rail industry.”

Dellner Couplers brings an 85-year legacy of innovation in train connection systems, which positioned the company as an industry leader in manufacturing and servicing of couplers for the transit rail industry. It has a global installed base of approximately 100,000 couplers and 12,500 gangways. Dellner Couplers provides an extensive offering in train connection systems, with production, assembly and aftermarket services’ facilities in 13 countries serving over 200 customers.

“The strength of Dellner Couplers’ management team and industry-leading solutions will accelerate our growth strategy in the passenger rail market,” said Pascal Schweitzer, President of Wabtec Transit. “The addition of Dellner Couplers aligns with our long-term vision of driving innovation, productivity, safety and reliability for passenger rail on a global scale.”

About Wabtec Corporation

Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The Company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 155 years and has a vision to achieve an efficient rail system in the U.S. and worldwide. Visit Wabtec’s website at www.wabteccorp.com.

About Dellner Couplers

Dellner Couplers is a global market leader focused on couplers and gangways for passenger rail rolling stock, with an over 80 year-long history of industry leadership. The company serves various major rolling stock OEMs, operators, and independent maintenance and repair providers worldwide. The company employs over 1,200 people throughout 17 offices worldwide and serves over 200 customers. Visit Dellner Coupler’s website at www.dellner.com.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of the U.S. securities laws, including statements regarding the expected benefits of the acquisition of Dellner Couplers, the anticipated synergies of the transaction, and the expected impact on Wabtec's operational and financial performance. Forward-looking statements concern future circumstances and results and are sometimes identified by the words such as “position” or “will” or other similar words or expressions. Forward-looking statements are based upon current plans, assumptions, estimates and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For more information on these risks, please refer to Wabtec's filings with the SEC. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of Dellner Couplers and Wabtec following completion of the transaction; (3) risks associated with the integration of Dellner Couplers and the potential for failure to realize the anticipated benefits and synergies of the transaction; (4) challenges that may inhibit Wabtec’s ability following completion of the transaction to implement its business strategy and capitalize on growth opportunities; (5) inability to retain key personnel; (6) changes in general economic and/or industry specific conditions; and (7) other risk factors as detailed from time to time in Wabtec’s reports filed with the Securities and Exchange Commission. The foregoing list of important factors is not exclusive.