nyse wab industry rail industry founded 1999 1999 via merger headquarters wilmerding pennsylvania 1 usa number of locations various usa europe canada mexico australia south america . 50 plants 1 key people albert j. neupaver executive chairman raymond t. betler president and ceo patrick d. dugan senior vice president and cfo 2 products rail braking systems locomotives air condition and heat exchanging systems other rolling stock components 1 services locomotive servicing overhaul and repair 1 revenue us 3 307.998 million 2015 3 operating income us 607.567 million 2015 3 net income us 398.628 million 2015 3 total assets us 3 300.335 million 2015 3 total equity us 1 701.339 million 2015 3 number of employees 13 000 1 divisions motive power inc. website www.wabtec.com wabtec corporation derived from westinghouse air brake technologies corporation is an american company formed by the merger of the westinghouse air brake company wabco and motivepower industries corporation in 1999 . it is headquartered in the pittsburgh suburb of wilmerding pennsylvania . wabtec manufactures products for locomotives freight cars and passenger transit vehicles and builds new locomotives up to 4 000 horsepower 3 mw . contents 1 history 2 united kingdom 2.1 brush traction 2.2 bearward engineering 2.3 wabtec rail uk 2.4 wabtec rail scotland 2.5 lh group services ltd 3 see also 4 references 5 external links history edit the company s origins go back as far as 1869 with the foundation of the westinghouse brake company . that company also known as wa & b later as wabco became independent in 1990 via a management buy out and went public in 1995 . 4 another company wabco vehicle control systems also created from the westinghouse brake company is independent of wabtec and was spun off by american standard companies the ultimate owner in 2007 . the other company forming wabtec motivepower industries can be traced back to 1972 with the formation of a rail systems group by the morrison knudsen group and the purchase of a manufacturing facility in boise . in 1994 morrison knudsen created a subsidiary mk rail corporation ; during the first half of the same decade the mk rail group expanded with the acquisition of various other locomotive component companies . in 1996 mk rail group is separated from the parent morrison knudsen and adopted the name motivepower industries corporation . in the later half of the 1990s further companies were acquired again all in the locomotive components business . 5 in march 2010 wabtec announced that it had purchased xorail a railway signaling design and construction company . 6 in july 2010 wabtec announced that it had purchased two manufacturers of rail equipment bach simpson corp. and g & b specialties . the companies produce locomotive components and track products respectively . the purchase price was reportedly us 48 million . 7 in november 2010 wabtec acquired all of the assets of cleveland ohio based manufacturer of traction motors and electric coils for rail and power generation markets swiger coil systems . 8 on july 27 2015 wabtec announced that it plans to purchase faiveley transport s.a. in a cash and stock deal valued at 1.8 billion including debt . 9 united kingdom edit brush traction edit on february 28 2011 wabtec announced that it had acquired brush traction an english locomotive builder and maintainer for us 31 million . 10 bearward engineering edit in november 2011 wabtec acquired bearward engineering ltd 1 an industrial radiator manufacturer employing some 300 people based in northampton england . bearward engineering primarily supplies the power generation market with uniquely designed cooling systems . at the time of purchase bearward had an annual turnover of us 70 million . 11 wabtec rail uk edit wabtec rail limited is a railway engineering company based in doncaster south yorkshire england . services include the overhaul and repair of railway rolling stock and components . wabtec rail occupies part of the former british rail engineering site known locally as the plant works . the two main unions on site unite and rmt gave notice on november 3 2014 of their intention to ballot their members for industrial action over a pay dispute for the first time in wabtec rail limited s history . 12 wabtec rail scotland edit wabtec rail scotland occupies the kilmarnock works of the former locomotive builder andrew barclay sons & co. . lh group services ltd edit wabtec announced the us 48m acquisition of diesel engine transmission and bogie overhaul and industrial locomotive supplier lh group on october 2 2012 . the lh group companies are now part of the wabtec rail group which includes wabtec rail ltd wabtec rail scotland and brush traction . based at barton under needwood in staffordshire uk . lh has around 400 employees and annual sales of us 65m about 10 % of which are in non rail markets . see also edit pittsburgh portal companies portal trains portal list of low emissions locomotives references edit a b c d e wabtec corporation fast facts wabtec.com corporate management . wabtec corporation . retrieved may 17 2014 . a b c d e wabtec corporation 2015 financial summary pdf . retrieved sep 25 2016 . wabtec corporation history wabtec.com motivepower wabtec history motivepower wabtec.com http www.railwaygazette.com news single view view wabtec buys signalling supplier xorail.html wabtec buys rail equipment makers . trains magazine . july 15 2010 . retrieved july 15 2010 . wabtec acquires swiger coil systems a leading manufacturer of traction motors electric coils . trading markets . retrieved november 8 2010 . wabtec to buy faiveley transport for 1.8 billion including debt . reuters . july 27 2015 . retrieved july 27 2015 . wabtec buys brush traction . railway gazette . february 28 2011 . archived from the original on february 28 2011 . retrieved february 28 2011 . wabtec acquires bearward engineering pdf press release . wabtec . november 3 2011 . retrieved april 11 2012 . wabtec rail uk . wabtecrail.co.uk . retrieved 2014 03 25 . external links edit wabtec corporation company website v t e locomotives built by morrison knudsen mk rail boise locomotive motivepower industries and wabtec four axle freight mk rail mk1200g mpi mp8ac 3 mpi mp14b mpi mp1500 mpi mp20b mpi mp2000d mpi mp21b six axle freight mk rail mk5000c mpi mp20c mpi mp27cn mpi mp33cn mpi mp33c passenger mpi mp36ph 3s mpi mp36ph 3c mpi mp40ph 3c mpi hsp46 v t e north american locomotive builders alco alco ge altoona works atlas baldwin bombardier brooks brookville clc climax cooke davenport dickson emd fairbanks morse ge transportation gmd globe grant hinkley ingalls jewett lima manchester mason mlw mount clare shops mount savage nrec norris pittsburgh porter portland progress rail services railpower rhode island roanoke shops richmond rogers schenectady slcc taunton tredegar vulcan wabtec westinghouse whitcomb willamette see also list of locomotive builders v t e pittsburgh history timeline culture 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