Expanding service capabilities in North America
Wabtec in the USA has acquired Relco Locomotives, a long-established player in the locomotive overhaul and maintenance industry. The acquisition expands Wabtec’s freight services capabilities and capacity.
“The complementary combination of our portfolios will create aftermarket services growth and the development of new, innovative solutions,” said Rafael Santana, Wabtec president and CEO.
The purchase price for the transaction was USD 29 million. Relco is in the locomotive leasing, rebuilding and repairing business, with operations in Albia and Cedar Rapids, Iowa, and its projected sales for 2019 are roughly USD 50 million. (ben)