Wabtec Unit Signs $30 Million Contract To Supply Doors for Marmaray Project in Turkey
November 04 2009 - 8:41AM
PR Newswire (US)
WILMERDING, Pa., Nov. 4 /PRNewswire-FirstCall/ -- Wabtec
Corporation (NYSE:WAB) said its Vapor Rail unit has signed a
contract valued at about $30 million to supply electric, sliding
plug doors for 440 subway cars to be built by Hyundai Rotem for the
Marmaray project in Istanbul, Turkey. The doors will be delivered
beginning in 2010, with the order expected to be completed in 2012.
The $4 billion Marmaray project, which includes construction of the
world's deepest tube tunnels, will connect the European and Asian
sections of Istanbul upon completion in 2012. The plan includes a
new, 8.5-mile section and the upgrading of 39 miles of suburban
train lines. "We're pleased to be working with Hyundai Rotem on
this high-profile program," said Albert J. Neupaver, Wabtec's
president and chief executive officer. "We have taken important
steps toward building a global rail door business, and this
contract represents significant progress in our efforts." In 2009,
Wabtec created a global Center of Excellence for rail doors, with
headquarters at Vapor Rail's Montreal office, and manufacturing
facilities in Plattsburgh, N.Y., and Sassuolo, Italy. Luc J.
Fouquette was named managing director of Vapor Rail, with
responsibility for growing the global rail door business. Fouquette
joined Wabtec in 2008, after nearly 20 years with Bombardier. In
announcing this appointment, Raymond T. Betler, vice president and
group executive, transit, said: "With our cost-effective, highly
engineered, high-quality systems and services, we are the leading
supplier of rail doors in North America. Our vision is to expand
Vapor Rail's existing international presence to become the global
leader." Wabtec Corporation (http://www.wabtec.com/) is a global
provider of value-added, technology-based products and services for
the rail and transit industry. 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.
DATASOURCE: Wabtec Corporation CONTACT: Tim Wesley of Wabtec
Corporation, +1-412-825-1543, Web Site: http://www.wabtec.com/
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