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.

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