financetom
Forex World Market Business Cryptocurrency Commodities MAP
financetom
Business
financetom
/
Business
/
Westinghouse Air Brake Technologies Acquires Fanox, Kompozitum for $110 Million to Support Transit Business
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Westinghouse Air Brake Technologies Acquires Fanox, Kompozitum for $110 Million to Support Transit Business
Nov 12, 2024 7:48 AM

10:16 AM EST, 11/12/2024 (MT Newswires) -- Westinghouse Air Brake Technologies ( WAB ) said Tuesday it has purchased Fanox and Kompozitum for $110 million in an effort to support its transit business.

The provider of services for transit vehicles said the acquisition of Fanox will broaden its expertise in producing specialized relays used in train operations and industrial applications. Kompozitum's integration is expected to support manufacturing and quality for Wabtec's pantograph products while advancing its carbon and graphite products and services, the company said.

Wabtec said the deal, which was funded through cash reserves and a revolving credit line, is expected to contribute immediately to earnings per share.

Price: 200.75, Change: -0.42, Percent Change: -0.21

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Update: Market Chatter: Major US Banks to See Lower Increase in Capital Mandate
Update: Market Chatter: Major US Banks to See Lower Increase in Capital Mandate
Sep 11, 2024
07:14 AM EDT, 09/10/2024 (MT Newswires) -- (Updates with the US Federal Reserve's response in second paragraph.) Regulators have agreed to cut an initial plan to increase capital requirements for the biggest US banks from 19% to 9%, Bloomberg News reported late Monday, citing people familiar with the matter. The US Federal Reserve turned down MT Newswires' request for comment,...
 High Tide Announcing JV with Positive Intent Events
High Tide Announcing JV with Positive Intent Events
Sep 11, 2024
07:16 AM EDT, 09/10/2024 (MT Newswires) -- High Tide Inc. ( HITI ) , a cannabis retailer, on Tuesday entered into a joint-venture with Positive Intent Events (PIE) to establish a position in Canada's nascent cannabis hospitality sector. A statement noted the announcement follows Alberta's decision to allow licensed cannabis pop-up stores at adults-only festivals and events. PIE is an...
 Bionano Genomics to Lay Off 84 Employees, Including CFO; Shares Down Pre-Bell
Bionano Genomics to Lay Off 84 Employees, Including CFO; Shares Down Pre-Bell
Sep 11, 2024
07:14 AM EDT, 09/10/2024 (MT Newswires) -- Bionano Genomics ( BNGO ) said Monday it is laying off about 45% of its workforce, or 84 employees including Chief Financial Officer Gulsen Kama, as part of a broader cost-cutting plan. The layoffs are expected to be done by Oct. 1, Bionano said, adding that the move is incremental to the company's...
 Joby Aviation Files Application to Initiate its Air Operator Certificate in the UAE
Joby Aviation Files Application to Initiate its Air Operator Certificate in the UAE
Sep 11, 2024
07:14 AM EDT, 09/10/2024 (MT Newswires) -- Joby Aviation ( JOBY ) said Tuesday that it has submitted a letter of intent to initiate its air operator certificate application to the General Civil Aviation Authority to operate commercial air transport in the United Arab Emirates. The company said it will follow a five-stage application process to develop a full complement...
About
Terms and Conditions Privacy policy Cookie Settings Contact Us
Services
Login register
financetom Market Personal Finance Business Economy Cryptocurrency MAP
Links
zpostcode Recruit weather mreligion Yellowpages sport constellation shopping name game directory literature Word tour furnish Lottery tftnews lyrics News digital car dir Edu Finance
Copyright 2023-2026 - www.financetom.com All Rights Reserved