Progress Rail and Wabtec Reach a Settlement in Antitrust Case

ALBERTVILLE, Ala. & PITTSBURGH–(BUSINESS WIRE)–#WeAreWabtec–Progress Rail, a Caterpillar company, and Wabtec Corporation (NYSE: WAB) announced today that the two parties have reached a settlement in Progress Rail v. Wabtec. The parties agree that this settlement is best for both companies, customers, and consumers, and the prospect of additional litigation is not in anyone’s interest. There is no admission of liability. The two companies acknowledge that they have been and remain suppliers of long-haul freight locomotives and cab components, including Tier IV long-haul locomotives, to Class I Railroads and other customers.

About Progress Rail

Progress Rail is a wholly owned subsidiary of Caterpillar Inc. and a leading provider of rolling stock, infrastructure and advanced technologies for global rail customers. The company delivers EMD® locomotives and engines, trackwork, signaling, fasteners, and comprehensive locomotive and freight car services, along with aftermarket parts and recycling. Its technology portfolio includes data analytics, automation, connected assets, predictive maintenance and yard optimization tools. With support from Caterpillar and a network of nearly 150 locations worldwide, Progress Rail delivers innovative, reliable solutions to the rail industry. Learn more at progressrail.com.

About Wabtec Corporation

Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and passenger rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 155 years and has a vision to achieve a more efficient rail system in the U.S. and worldwide. Visit Wabtec’s website at www.wabteccorp.com.

Contacts

Progress Rail Media Contact:
Amy Everett
+1 256-505-6749
[email protected]

Wabtec Media Contact:
Tim Bader
+1 682-319-7925
[email protected]

Wabtec Investor Contact:
Kyra Yates
+1 817-349-2735
[email protected]