Independent journal on economy and transport policy
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Fusion of the Americans GE Transportation and Wabtec Corporation
A group with a annual turnover of eight billions of dollars will be born
May 22, 2018
The industrial group American General Electric (GE) and the compatriot Westinghouse Air Brake Technologies Corporation (Wabtec Corporation), specialized in the supply of producing for the rail shipment and other industrial fields, has agreed the fusion of GE Transportation, intermodal and marine division of GE that develops solutions and producing for the rail shipment, and for the mining industry, with the same Wabtec.
The transaction, than second the forecasts will be capacity to term at the beginning of the next year, will create a group with a annual turnover of eight billions of dollars. Last year the division you transport of GE has recorded revenues pairs to 4,18 billion dollars, while the turnover clearly of the Wabtec is piled to 3,88 billion dollars.
The binding agreement, that it is approved of by the boards of directors of the two groups, previews that GE receives 2,9 billion dollars and that to GE and its shareholders the property of 50.1% of the capital of the new society been born from fusion (40.2% is conferred will go to the shareholders and 9.9% to GE). Remaining 49.9% of the capital will be stopped by the shareholders of the Wabtec Corporation.
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The industrial group American General Electric (GE) and the compatriot Westinghouse Air Brake Technologies Corporation (Wabtec Corporation), specialized in the supply of producing for the rail shipment and other industrial fields, has agreed the fusion of GE Transportation, intermodal and marine division of GE that develops solutions and producing for the rail shipment, and for the mining industry, with the same Wabtec.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
