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Wabtec, a manufacturer of U.S. train braking systems, recently announced that it will acquire a 51% stake in Faiveley-transport-sa, a French railway equipment manufacturer, for about $1.6-1.7 billion through a cash-and-stock transaction to achieve a controlling stake.
The combined company will become one of the world's largest manufacturers of rail equipment, with annual revenues of around $4.2 billion. It is expected to achieve annual revenue of $5 billion within three years.
Favillé was founded about 90 years ago and has sales revenue of about $1.2 billion in the latest fiscal year.
Westinghouse Brake was formed in 1999 by the merger of the Westinghouse Airlock business and motivepower-Industries to produce brake systems, cooling systems and other components.
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