- Wabtec or Westinghouse Air Brake Technologies Corp WAB received an additional multi-year order from Norfolk Southern Corp. NSC to modernize 330 locomotives as part of its continued partnership. Financial terms were not disclosed.
- The deal marks the third significant modernization order from the railroad since 2015, with more than 950 locomotives upon completion in 2025.
- Wabtec will modernize D9-44CW locomotives that are more than 20 years old and transform them into AC44C6Ms, adding another 20 years of incremental life to each locomotive.
- The modernizations will yield significant dividends per locomotive, including improved fuel efficiency by 25%.
- Price Action: NSC shares are trading lower by 0.34% at $278.00 and WAB higher by 0.20% at $95.88 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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