PITTSBURGH — Wabtec Corp. announced on July 7 plans to acquire Frauscher Sensor Technology Group GmbH for 675 million Euros.
“This strategic acquisition enhances Wabtec’s current Digital Intelligence portfolio, our opportunities in a high potential market, and aligns with our company’s long-term growth strategy,” Wabtec President and CEO Rafael Santana said in a release. “Frauscher has an industry leading portfolio that offers a rare combination of innovative technology, sustained growth, and strong and resilient profitability.”
Wabtec, a North Shore-based railroad technologies company, noted that the deal will help position it for more growth, adding to its Digital Intelligence business.
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