GE and Wabtec have announced an agreement to merge which will make Wabtec a Fortune 500 company. How this will affect the Erie GE plant will be determined as the merger is implemented.
Following the transaction, Wabtec will have approximately $8 billion in revenues, a more diversified business mix, higher margins, and approximately 15 percent cash EPS accretion in year one.
Both businesses are expected to benefit from the cyclical tailwinds they are experiencing as industry conditions improve. Complementary businesses and large global installed base will create additional opportunities for cross-selling, aftermarket services growth and new solutions in a rapidly evolving industry.
Full details can be found here: GE Transportation and Wabtec Merge