Wabtec Corporation announced it had acquired Brazil’s Adantech Industria e Comercio de Metal. The Brazilian firm is a friction products company based in São Paulo, Brazil. The acquisition closed on Dec. 31, 2010. The terms of the investment transaction were not immediately disclosed.

Adantech manufactures a variety of brake shoes and pads for subway cars, locomotives, and freight cars. The company serves both transit and freight markets, primarily in the aftermarket. The company was founded in 2003 in Sao Paulo and serves transit and freight markets, the statement said. Shares of Wabtec rose $1.14, or 2.2 percent, to $52.59 in morning trading.

Albert J. Neupaver, Wabtec’s president and chief executive officer noted that with commodities such as iron ore driving its economy, Brazil is expected to continue growing at a steady pace for the foreseeable future.  Neupaver further noted that as a result, investment in the country’s freight and passenger transportation networks is growing, which offers significant potential for Wabtec.

In 2009, Wabtec established a service center in Belo Horizonte, Brazil. The center provides component repair and reconditioning services for the Brazilian market.

Wabtec Corp. is based in Wilmerding, with sales of about $2 million. The seven-year-old company serves both transit and freight markets, primarily in the aftermarket. For Wabtec, a global provider of technology-based products and services for rail and industrial metals, this acquisition will expand its presence in Brazil.

Wabtec Corporation is a global provider of technology-based products and services for rail and industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

In 1991, the company initiated a strategy to expand its capabilities by acquiring various companies that manufactured and distributed locomotive parts. Each of the acquired companies provided value-added, engineered products and had leading market shares. The company went public in 1994 and has grown its portfolio impressively over the years.

Today, Wabtec manufactures a broad range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services. The acquisition further expands the American firm’s offering globally, as well as enhancing its position in the market.

5 Jan 2011.