Faiveley Transport has signed an agreement to acquire a controlling interest in Graham-White, a leading designer and manufacturer of compressed air drying technology and brake components for locomotives and rail transit markets.
Graham-White employs 300 people and operates six facilities across the United States, with a central manufacturing site located in Salem, Virginia.
Faiveley Transport and Graham-White have worked together for several years as Faiveley Transport is the primary licensee for Graham-White’s air dryers in India.
“I am very pleased to welcome Graham-White into the Faiveley Transport group. Graham-White will reinforce our commitment to North American original equipment manufacturers and rail operators, which is fully in line with our strategic focus on the US. The companies have similar cultures, and have already worked together successfully in the past, which will help to make it a very compelling combination” said Thierry Barel, CEO of Faiveley Transport.
The transaction is expected to be closed in the first quarter of 2012.
Strange that you have included this article in UK Rail News, when Faiveley Transport is a French company that is purchasing an American company?