Wabtec Forms Joint Venture to Manufacture Brake Equipment for Chinese Rail Market
WILMERDING, Pa. — Wabtec Corp. has formed a 50-50 joint venture in China to manufacture brake equipment for the Chinese rail market. The joint venture is owned by Wabtec and Shenyang Locomotive and Rolling Stock Railways Brakes Co. Ltd., the largest manufacturer of locomotive and freight car brake equipment in China. “This investment builds on our existing presence in China, the largest rail market outside of North America,” said Albert J. Neupaver, Wabtec’s president and chief executive officer. “Our capabilities and technology will be valuable assets in this rapidly growing market.” The joint venture company, Shenyang CNR Wabtec Railway Brake