EUROPE: Wabtec has acquired Fanox, a Spanish producer of medium-voltage relays which will expand its range for onboard and industrial applications, and Kompozitum, a Slovakian manufacturer of machined carbon and graphite components with metal or resin impregnation which Wabtec said would improve its pantograph portfolio.
Wabtec is acquiring the two companies for a combined US$110m, financed through cash on hand and a revolving credit facility.
‘We are excited about bringing the capabilities of Fanox and Kompozitum to our Transit Business’, said Pascal Schweitzer, President of Wabtec Transit on November 14. ‘These acquisitions align with our strategy by bringing in technologies that are complementary to our product portfolio, positioning the business for accelerated, profitable revenue growth.’
