Westinghouse Air Brake Company (NYSE: WAB) today announced that Spoornet, the South African state-owned railway, has awarded a contract to WABCO's Railway Electronics Division for a wireline-based Electronically Controlled Pneumatic (ECP) brakes and distributed power control (DPC) equipment.This will provide for advanced, integrated braking and train control for operation on the Richards Bay - Ermelo Coal Line, which is one of the highest density, heavy-haul rail lines in the world.
WABCO Chairman and CEO William E. Kassling stated: "We are excited by this project and happy to partner with a prestigious railroad such as Spoornet. This is the first time that a train will be equipped with the full array of WABCO products connected electronically throughout the train. Additionally, this also represents the rail industry's first fully integrated installation of ECP braking and distributed power equipment. This project reinforces our position as the leading developer of the next generation of on-board electronic equipment for the rail industry, a key element of our long-term growth strategy."
The test train will consist of 210 cars and four locomotives. The locomotives will be equipped with EPICŪ locomotive electronic air brakes and PowerLinkŪ distributed power units, while the freight cars will utilize ECP freight car brakes. With this fully integrated control system, Spoornet expects to achieve significant improvements resulting in significant ride quality improvement. These improvements will support increased hauling capacity for Spoornet without the addition of trains or track infrastructure. Equipment delivery and installation is planned for the fourth quarter of 1999.
This order is another example of WABCO products working to improve the productivity and safety of the railways of the World.
FORWARD LOOKING STATEMENTS
This news release contains various forward-looking statements and includes assumptions about future market conditions, operations and results. These statements are based on current expectations and are subject to risks and uncertainties. They are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Among the many factors that could cause actual results to differ materially from the forward-looking statements are: changes in the competitive environment for the Company's product, changes in market conditions and other factors included in the Company's filings with the Securities and Exchange Commission, incorporated by reference herein. The Company assumes no obligation to update these forward- looking statements or advise of changes in the assumptions on which they were based.
Westinghouse Air Brake Company is North America's largest manufacturer of value added equipment for locomotives, railway freight cars and passenger transit vehicles. The Company's mission is to be the leading supplier of world class products and services to the railroad freight and transit industries, helping its customers to achieve higher levels of safety and productivity so they can compete more effectively.
Source: Westinghouse Air Brake Company Monday, April 12, 1999
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