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GE Transportation, a Wabtec Company.
“We believe this is too high, given what we see as Wabtec’s enviably strong position at the negotiating table. The rail equipment industry can be brutally cyclical, and companies operating within the space tend to target a high degree of diversification. BOSTON - February 25, 2019 - GE (NYSE: GE) announced today the completion of the spin-off and subsequent merger of its transportation business with Wabtec Corporation (NYSE:WAB). We’re deeply proud of GE employees around the world rising to the challenge.At GE, we rise to the challenge of building a world that works. The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec.”GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio.Find yourself a world changing job.In the transaction, GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec.The exchange ratio for the combined Spin-off/merger transaction is 0.005371, meaning participating GE shareholders will receive 0.005371 shares of Wabtec common stock for each outstanding share of GE common stock held.
GE Transportation, a Wabtec company combines decades of industrial leadership with cutting-edge data science and analytics acumen to create an efficient, productive and reliable digital-rail ecosystem – from shipper to receiver - from ports to intermodal terminals - main line locomotives and railcars - to train yards and operation centers.
Accomplished leaders building GE’s legacy.Answers to popular and relevant inquiries.Access important shareholder information.GE announced today that it has completed the spinoff and merger of its Transportation business with Wabtec Corporation. We’re deeply proud of GE employees around the world rising to the challenge.At GE, we rise to the challenge of building a world that works.
Accomplished leaders building GE’s legacy.Answers to popular and relevant inquiries.Access important shareholder information.Explore GE’s recent and historic SEC filings.Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors.Together with our customers, we’re proving that no one is ever limited to only affordable, reliable, or sustainable energy.Learn how we’re delivering on our priorities.We’re continuing to do all we can to support our customers and employees during this unprecedented time. INDUSTRY: Wabtec Corp has entered into a definitive agreement to merge with GE Transportation, the companies announced on May 21. Today, Wabtec is a leading supplier of freight car and locomotive products. Additionally, Wabtec must realize that GE, which has long stated its desire to offload the transportation segment, may not have better avenues to explore.“The Bloomberg report appears to suggest that GE Transportation’s valuation could be as high as $6.8 billion,” notes Cowen and Co. analyst Matt Elkott. Wabtec Transportation Systems, LLC is located in Erie, PA, United States and is part of the Automotive Repair & Maintenance Services Industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. USA: The merger of Wabtec Corp and GE Transportation was completed on February 25, with Wabtec President & CEO Raymond T Betler describing the transaction as a ‘once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world.’
In 2019, two purpose-driven companies – Wabtec and GE Transportation – came together toward a common goal: to invent smarter ways to move and improve the world. The company also builds new switchers — locomotives used to move cars around in railyards — and commuter locomotives.
GE will also nominate three independent members to the Wabtec board. We note, however, that interest by large investment conglomerates or international entities cannot be ruled out.”Cowen has devised a hypothetical scenario consisting of 40% new equity issuance, 30% new debt, and 30% GE equity maintained in its transportation unit. GE Transportation, a Wabtec Company - CWC Portal - Welcome Welcome to GE Transportation, a Wabtec Company Customer Web Center The Customer Web Center (CWC) is a Web-based portal that aggregates customer applications, online parts support, and self-service transactions.
The company is still ironing out a few lingering transitory issues from its late-2016 acquisition of Faiveley, its largest ever ($1.74 billion). GE Chairman and CEO H. Lawrence Culp, Jr., said, “Today’s update is another important landmark in executing GE’s portfolio strategy. Wabtec Transportation Systems, LLC has 11 total employees across all of its locations and generates $3.27 million in sales (USD). This transaction is good for GE shareholders, who gain equity in an organization at the forefront of rail innovation; for GE, as we work to reduce leverage and strengthen our balance sheet; and for Wabtec, which now has a stronger and more diversified business mix to serve its customers.
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