Wabtec Corporation continue to expand its presence in Brazil, the largest rail market in South America, by acquiring Adantech Industria e Comercio de Metal, a friction products company.
Adantech, with sales of about $2 million, manufactures a variety of brakes shoes and pads for subway cars, locomotives and freight cars. Founded in 2003 and based in Sao Paulo, Brazil, the company serves both transit and freight markets, primarily in the aftermarket. The acquisition closed Dec. 31, 2010.
In 2009, Wabtec established a service center in Belo Horizonte, Brazil. The center provides component repair and reconditioning services for the Brazilian market.
“With commodities such as iron ore driving its economy, Brazil is expected to continue growing at a steady pace for the foreseeable future,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “As a result, investment in the country’s freight and passenger transportation networks is growing, which offers significant potential for Wabtec.”
Wabtec Corporation is a global provider of technology-based products and services for rail and industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.