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Wabtec Buys Napier

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On Friday, Wabtec (NYSE: WAB  ) -- a.k.a. Westinghouse Air Brake Technologies -- announced that it has acquired U.K.-based Napier Turbochargers, a maker of turbochargers for high-horsepower engines used in the power generation and marine markets.

The move into turbochargers appears to be a departure for Wabtec, which has historically focused on manufacturing products for the railroad industry, which provides the majority of its revenues. Nonetheless, the move is a small one. In a press release on the acquisition, Wabtec noted that Napier's annual sales amount to only $55 million -- less than 3% of Wabtec's own annual revenue.

Also lending some comfort, Wabtec says it expects the deal to be accretive to earnings in its first year. Further financial details on the acquisition, including the actual purchase price, were not disclosed.

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Related Tickers

9/23/2016 4:00 PM
WAB $76.82 Down -0.60 -0.77%
Westinghouse Air B… CAPS Rating: *****