GE to sell GETS (GE Transportation GE Rail) to WABTEC

[mtuandrew]

If someone had told me in 1998 that MPI would own GETS and Cat would own EMD instead of the reverse, I would have told you that you were crazy.

Interesting ownership structure... one that could mean GE could later merge the whole WABTEC consortium if its stockholders like the ROI.

[Gilbert B Norman]

Here was likely Westinghouse's last hurrah building a locomotive as prime - contractor:

https://en.wikipedia.org/wiki/Pennsylva ... _class_E3c

The bodies were "subbed" to Baldwin.

[jamoldover]

You do realize we're talking about a different Westinghouse here...

Westinghouse Air Brake (now WABCO, the company GETS is being merged with) is not the same company as Westinghouse Electric (who was the locomotive builder). While George Westinghouse may have been the founder of both companies, they've never been under common ownership.

[Ira]

Wondering what will become of the Erie plant moving forward.

[Allen Hazen]

What Jamoldover said.
Both companies had presence in the Pittsburgh area when I lived in Pittsburgh in the early-mid 1970s, and were known as Wemco (W'house Electrical and Machinery, I think: the company that built some early diesel locomotives in the 1920s/1930s, and (often with mechanical portions by Baldwin) many PRR (and other) electric locomotives), vs. Wabco (W'house Air Brake), the ancestor of the Wabtech that is merging with GETS.

For those interested in non-electric, non-diesel, locomotives... PRR 4483, the last surviving I-1sa, now at a railroad museum in upstate New York, spent a number of years on the front lawn of the Wabco plant in Wilmerding/Turtle Creek (eastern suburb of Pittsburgh), visible from the PRR main line.

[Gilbert B Norman]

Here's more regarding the locomotive noted by Mr. Hazen:

http://www.trainweb.org/wnyrhs/4483Frame1Source1.htm

[XC Tower]

Curious here about the fate of GE's Erie Plant....Is everything in a holding pattern pending a decision regarding WABTEC's purchase?....I am a bit confused over this. Is it a purchase of GETS or a merger?..
Thank you for any clarification.



XC

[Jeff Smith]

Final consummation to take place by early 2019: railwayage.com

Wabtec-GE merger moving ahead

Wabtec Corp. today said it is progressing with its proposed merger with GE Transportation and filed a proxy statement with the SEC.

“The company continues to make progress in its planned merger with GE Transportation, including today the successful execution and settlement of $500 million of three-year Floating Rate Notes and $2 billion of five-year and 10-year Senior Notes to fund a majority of the cash requirements for the transaction.

Wabtec expects the transaction to be completed by early 2019.
...

[piker]

As events develop at GE this looks like a better and better deal for WABTEC and GETS and their employees . A take over by an experienced industry leader is the best possible thing for them. CAT/EMD is sort of drifting leaving GETS as the last real American freight locomotive builder it seems. The WABTECS seem to be a forward looking bunch and what appears to be pretty tight ship. They already make small switchers and just bought a streetcar outfit. Looks to me like they're stealing GETS and I'm guessing the GETSs would like to be stolen.
I read somewhere that the WABTECs would not retain the GE brand which as a railfan makes me sad. When this deal is fully done WABTEC will be a Fortune 500 company so you have to imagine there will be a branding effort. What about design changes? Cosmetic and engineering do you just keep doing what they were doing pre merger? I mean at least for the moment you just look in the door at GETS and tell them they're doing great and keep it up.
This will be interesting to follow.