WILL MERGE.(mergers and acquisitions)(Brief Article)

From: Railway Age | Date: July 1, 1999 | Copyright information

MotivePower Industries, Inc., and Westinghouse Air Brake Co. have agreed on a "merger of equals" that will create a company with nearly 7,500 employees and 50 manufacturing, distribution, and service facilities in North America, Europe, and Asia.

The MotivePower Industries name and New York Stock Exchange symbol (MPO) will be retained for the new company; Westinghouse Air Brake will survive as a division and product name.

MotivePower Industries reported net sales of $107.3 million and net income of $7.9 million in this year's first quarter. Westinghouse Air Brake's first ...

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