Wabtec buys generator parts maker Napier Tech
WILMERDING, Pa. (AP) — Wabtec Corp., which makes parts for the rail industry, said on Friday that it has acquired Napier Turbochargers Ltd., which makes turbochargers for high-horsepower engines used for generators. Terms were not disclosed.
Napier is based in Lincoln, England, has annual sales of about $55 million and employs about 150 people.
Wabtec President and CEO Albert J. Neupaver said Napier is a good fit because of its engineering and technical abilities, its reputation for quality parts and services, and its good position in growing markets. Also, its large base of installed parts gives it an ongoing flow of revenue as it makes replacement parts and provides services. He also said Wabtec would take advantage of Napier's global presence and growth opportunities in markets such as Asia. Wabtec said it expects the deal to add to its profits within a year.
Wabtec, or Westinghouse Air Brake Technologies Corp., is based in Wilmerding, Pa., and also builds new switcher and commuter locomotives and parts for transit vehicles. It employs about 8,600 people.
Wabtech shares rose 78 cents to $94.38 in morning trading.
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