Wabtec Announces Railcar Telematics Platform

Rhea-AI Summary

Wabtec (WAB) partners with Intermodal Telematics B.V. to enter the railcar telematics market, offering a real-time information platform for railcar and tank container owners and operators. The solution will be launched in Q1 2024, exclusively in North America and other heavy-haul freight markets globally.

PITTSBURGH--(BUSINESS WIRE)-- Wabtec (NYSE: WAB) announced today its entrance into the railcar telematics market via an agreement with Intermodal Telematics B.V. (“IMT”), a Dutch company, under which Wabtec will create a railcar telematics platform using IMT technology. Wabtec’s new railcar telematics platform will deliver real-time information to railcar and tank container owners and operators, allowing them to turn rail cargo into smart, connected assets.

Wabtec plans to begin offering this railcar telematics solution in the first quarter of 2024. The solution will be offered exclusively by Wabtec in North America and other heavy-haul freight markets globally as set forth in the agreement.

“The rail industry is on the verge of a new era where the use of real-time data about the status and condition of cargo will be transformative to the customer experience and supply chain efficiency,” said Nalin Jain, Group President of Digital Intelligence at Wabtec. “Telematics builds on Wabtec’s rich history serving the freight car markets with next-generation solutions. Our innovative solutions will improve shipment visibility, increase on-time performance, and expand asset utilization to make shipping freight by rail more competitive.”

Wabtec railcar telematics will include sensors, gateways, wireless communications, and analytics. The technology will be offered for retrofit on existing fleets and also will make Wabtec's current railcar components smarter by integrating solutions right from production. The new offering will include a comprehensive suite of solutions that track real-time location and monitor key attributes such as handbrakes, hatches, doors, and loaded/unloaded status for a railcar, as well as cargo temperature and pressure for a tank container.

About Wabtec

Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. Visit Wabtec’s website at: https://www.wabteccorp.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20231214336724/en/

Wabtec Media Contact:

Tim Bader

682-319-7925

tim.bader@wabtec.com

Wabtec Investor Contact:

Kristine Kubacki, CFA

412-450-2033

kristine.kubacki@wabtec.com

Source: Wabtec Corporation

FAQ

What is the latest announcement from Wabtec (WAB)?

Wabtec has partnered with Intermodal Telematics B.V. to create a railcar telematics platform.

When will Wabtec's new railcar telematics platform be available?

The solution is planned to be offered in the first quarter of 2024.

In which markets will Wabtec's railcar telematics solution be available?

The solution will be offered exclusively in North America and other heavy-haul freight markets globally.

What does Wabtec's railcar telematics platform aim to deliver?

The platform aims to deliver real-time information to railcar and tank container owners and operators.

Who is Wabtec's partner in this railcar telematics venture?

Wabtec has partnered with Intermodal Telematics B.V. for this venture.