Wabtec Rail Purchases LH Group.

[fgwrich]

Seems to have been anounced today:

Wabtec takes over UK-based LH Group

02 Oct 2012⋅by Marc Johnson⋅ in Business, Featured rail engineer Rail News, Featured Rail News, Featured RailStaff Rail News, Rail News, Rolling Stock and Components ⋅ 0 Comments

Rail vehicle engineering company Wabtec has bought UK-based LH Group for $48 million.

LH, which overhauls diesel engines, transmissions, powerpacks and bogies, is the latest in a list of UK engineering firms to be acquired by the US company.

In 2011, Wabtec announced that it was to take over Brush Traction – a Loughborough-based locomotive overhaul specialist – and Bearward Engineering Ltd.

The acquisition of LH, which has annual sales of about $65 million, will strengthen Wabtec’s position in the UK market as a one-stop-shop for rail vehicle overhauls.

Albert J. Neupaver, Wabtec’s president and chief executive officer, said: “LH complements and strengthens our existing aftermarket presence in the UK by enabling us to offer complete overhaul services for a variety of passenger transit vehicles and components, including engines and transmissions. In addition, the company’s engineering skills, focus on quality and long-standing customer relationships make LH a good fit with Wabtec.”
http://www.rail.co/2012/10/02/wabtec-takes-over-uk-based-lh-group/

 

[Xenophon PCDGS]

This acquisition which gives them more strength in that sectoral area will further strengthen their negotiating position in the search for new contracts.

Quite a logical business acquisition.