Wabtec Signs $27 Million Contract to Provide Signa

WILMERDING, Pa., Nov. 09, 2015 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB ) has signed a $27 million contract with Regional Rail Partners to provide Phase I signaling and communications systems, including Positive Train Control (PTC) equipment, for the new North Metro Rail Line in Denver.  The line will eventually be integrated into Regional Transit District commuter rail services.  

Under the contract, Wabtec’s Xorail division is providing wayside signaling and communications systems, along with integration and project management services. 

This new contract follows two others that Wabtec was previously awarded in connection with the Denver project.  In 2011, Wabtec was awarded a $63 million contract with Denver Transit Partners to provide PTC equipment and services, a dispatch office system, wayside signaling and communications systems, and related integration and project management services for three other commuter rail lines that are part of the overall project.  In 2012, Wabtec was awarded a $25 million contract to provide brakes, couplers, PTC equipment, event recorders and doors for 50 new transit cars for the system. 

“We’re pleased to be working with Regional Rail Partners and other industry suppliers on this important project,” said Raymond T. Betler, Wabtec’s president and chief executive officer.  “This demonstrates the variety of roles we can play, as transit agencies around the U.S. continue to deploy PTC and to invest in their systems.  To date, we have booked nearly $400 million of transit PTC projects, and we are bidding on many other future opportunities.” 

The Denver North Metro train control system will meet the requirements of the U.S. Rail Safety Improvement Act of 2008, and will use PTC products that Wabtec is providing to freight railroads and other transit systems.  The North Metro Rail Line is an 18.5-mile electric commuter rail line that will run from Denver Union Station through Commerce City, Thornton and Northglenn to Highway 7 in North Adams County.  The line is part of a 12-year, multi-billion-dollar public transportation expansion plan in the region. 

Wabtec Corporation is a global provider of technology-based products and services for rail and other industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

Tim Wesley Phone: 412.825.1543 E-mail: twesley@wabtec.com Website: www.wabtec.com Wabtec Corporation 1001 Air Brake Avenue Wilmerding, PA 15148