Wabtec and GE Transportation to merge

Raymond T Betler, president and chief executive of Wabtec, said: “The DOJ’s decision to close its review of the pending merger marks a significant milestone for our customers, employees, and shareholders.

“By bringing together GE Transportation, a global digital industrial leader and supplier to the rail, mining, marine, stationary power and drilling industries, with Wabtec’s broad range of freight, transit and electronics solutions, we will have the capability and expertise to invent smarter ways to move and improve the world.”

GE Transportation includes GE’s medium speed diesel engine business. Following the merger with Wabtec’s diversified transportation business, GE will remain active in the marine market through its GE Power Conversion, Digital and Marine Gas Turbine segments.

The transaction, which will position Wabtec as a Fortune 500 company with operations in more than 50 countries, is expected to close by the end of the first quarter of 2019.