WABTEC Corp has acquired Longwood Industries, a US manufacturer based in Greensboro, North Carolina (with plants in both US and Europe) specialising in rubber products including diaphragms and seals for transportation and oil and gas markets, and had annual sales of about US$70 million.
Financial terms of the deal were not discolosed.
Chairman and CEO Albert J. Neupaver of Pittsburgh-based Wabtec, commented, “With its diverse end markets and technical expertise, Longwood will be a strategic complement to our existing rubber products businesses, which also serve transportation and industrial markets. We will benefit from Longwood’s capabilities and market position in the oil and gas sector, and we expect to use our global presence to expand its international sales.”
Wabtec has acquired several companies in 2013, including Turbonetics in July and Napier in February.