Wabtec Secures Over $700 Million Services Agreement for Evolution Series Locomotives
Wabtec (NYSE: WAB) has signed a long-term services agreement worth over $700 million with La Compagnie du TransGuinéen. The deal involves providing maintenance and support for the company’s new fleet of Wabtec Evolution Series locomotives. This contract, combined with existing 2024 locomotive orders from the same project in Guinea, elevates the total value of Wabtec's involvement in the Simandou railway initiative to over $1.2 billion. The agreement underscores growing demand for advanced rail solutions and positions Wabtec as a key player in large-scale infrastructure projects. The deal highlights Wabtec’s expanding footprint in international markets, particularly in Africa where major mining operations are driving investment in transportation infrastructure.
Tickers: $WAB
Topics: contract award locomotive orders long-term services agreement