Wabtec acquires Mors Smitt
WABTEC, United States, has acquired Mors Smitt, a manufacturer of electronic components for rail and industrial markets, from the investment company Eurazeo PME for around $US 88m.
Mors Smitt is based in the Netherlands and has operations in Britain, the United States, France, and both mainland China and Hong Kong. The company manufactures electronic relays, measurement devices, and controls for rolling stock and signalling as well as other applications such as power generation, petro/chemical and water treatment plants. It has annual sales of around $US 60m and employees around 350 people.
"Mors Smitt provides a variety of safety-critical components and will be a strategic complement to our existing rail and industrial product lines," says Mr Albert Neupaver, Wabtec's president and CEO. "The company's global presence adds to our international footprint with established manufacturing and distribution capabilities."