To boost its presence in the international markets, Westinghouse Air Brake Technologies Corporation WAB, operating as Wabtec Corporation, reached a definitive agreement to acquire the Brazilian company Super Metal. Financial terms of the deal were not disclosed.
Super Metal is a leading supplier of automated vehicles and equipment solutions supporting rail operations. The buyout will boost Wabtec’s Railway Maintenance portfolio. The acquisition is a highly prudent move as it expands Wabtec’s rail maintenance portfolio in South America by complementing its presence in Contagem, Brazil, with respect to freight rail manufacturing.
Explaining the rationale behind the deal, Pascal Schweitzer, the group president of Wabtec’s Global Freight Services, said: “Super Metal is a great addition to our maintenance of way portfolio. Their differentiated road-to-rail solutions will accelerate our international growth in key regions such as Latin America, Asia, and Africa.”