WILMERDING, Pa. (AP) -- A Pittsburgh railroad equipment company plans to buy an Illinois firm that makes undercarriage parts for locomotives and freight cars for $300 million in cash.
Wabtec Corp., based in Wilmerding, says the deal for Standard Car Truck of Park Ridge, Ill. will allow the combined company to continue to expand. Standard Car Truck has plants in Pittsburgh and Gibsonia, just north of the city.
Standard car has seven other U.S. plants, plus overseas offices in Scotland and Malaysia. The company makes the cast iron parts that hold railroad car wheels together and other parts.
The deal is subject to antitrust approvals. Wabtec says it plans to close on the deal later this year.
