Article by progressiverailroading.com Wabtec Corp. announced today it has signed a definitive agreement to acquire Nordco Inc. from Greenbrier Equity Group LP for $400 million in cash. Based in Wisconsin, Nordco is a supplier of rebuilt and used maintenance-of-way (MOW) equipment with a product and service portfolio that includes mobile rail-car movers and ultrasonic rail-flaw […]
GE Transportation workers were told after merger their new employer “wants to turn this into an Amazon warehouse,” says labor union. About 1,700 workers at a plant that was owned by GE Transportation in Erie, Pennsylvania, are on strike Tuesday. The incoming owner of the factory, Wabtec Corporation, plans to impose mandatory overtime, a lower […]
Lance Fritz says the industrial tie-up provides ‘a home that’s stable’ for major rail locomotive supplier The General Electric railroad manufacturing business is one of two suppliers of locomotives to Union Pacific. PHOTO: GEORGE FREY/BLOOMBERG NEWS The head of the largest freight railroad in North America says he’s happy with General Electric Co.’s $11 billion […]
General Electric diesel locomotives at a manufacturing plant in Fort Worth. The company is spinning off its railroad business in an $11 billion deal. John Flannery took a step on Monday toward his goal of making General Electric a “simpler, leaner” company by spinning off its railroad business in […]