Wabtec agrees to acquire Fandstan for $215M


Wabtec has signed a definitive agreement to acquire Fandstan Electric Group, a rail and industrial equipment manufacturer, for cash of about $215M. Based in London, England, Fandstan Electric has annual sales of about $235M. Wabtec expects the transaction to be completed in the first quarter of 2014, subject to customary closing conditions and competition authority clearance.

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