U.S-based rail solutions company Wabtec Corp. has acquired the assets of Australia-based Track IQ . The Australian company manufactures wayside sensor systems used in the global rail industry.

Headquartered in the Pittsburgh suburb of Wilmerding, Pennsylvania, Wabtech was formed in 1999 after merging Westinghouse Air Brake Company with MotivePower Industries Corporation. It manufactures products that cater to locomotives, freight cars and passenger transit vehicles. The company also makes locomotives up to 4,000 horsepower, Business Journals reported.

Track’s products

The annual sales of Track IQ are about US$15 million (AU$20.43 million). The sensors made by Track IQ, find extensive use in monitoring and measuring the operating condition of bearings and wheels on rail vehicles. They also help in generating data to improve preventative maintenance and safety performance in rail systems. Track IQ’s systems are already installed in more than 150 locations across the world, according to Wabtec. Track IQ also operates offices in the U.S. and Europe.

“With its core sensor technology, Track IQ expands our capabilities into an important segment of the wayside market. We see opportunities to integrate the company’s sensors into Wabtec’s existing train control, signaling and electronics product offerings. In addition, we can leverage Track IQ’s technology and expertise as we develop enhancements and additional features for our train control products,” said Raymond T. Betler, Wabtec’s president and chief executive officer.

Among the Track IQ’s customers are Class I railroads of the U.S., and other large rail networks in Europe and Australia. Track IQ’s acoustic sensors are valuable in adding more safety to the bearings and wheels of freight and passenger rail vehicles. The data provided by Track IQ’s products positively enhance the value of preventive maintenance and promote safety performance.

Wabtec Corporation is hoping that the value addition from the acquisition will boost its services as a global provider of value-added, technology-based products for the rail and industrial markets. Wabtec’s switcher and commuter locomotives are already attracting a wider market, reports the Market Business.

Faiveley deal

Meanwhile, Wabtec Corp is pursuing a share purchase agreement with Faiveley Transport SA to pick up 51 percent stake in that company. It is in advanced negotiations with the members of the Faiveley family. Wabtec is aiming to clinch the deal so as to “create one of the world’s largest public rail equipment companies, with revenues of about US$4.5bn (AU$6.13 billion) and a presence in all key freight rail and passenger transit geographies worldwide, reports RTT News.

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