US freight care components maker changes hands
US-based Wabtec has acquired Aero Transportation Products (ATP), a manufacturer of engineered freight car components. The company has annual sales of about USD 40 million. ATP manufactures hatch covers and outlet gates for hopper railroad freight cars. These covered hopper cars are used by rail shippers to transport bulk commodities such as grain, cement, fertilizers, foods, and sand.
ATP’s sales are mainly in the USA, so it expects to benefit from Wabtec’s worldwide presence in key freight markets such as Australia and South America. (ben)