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Yesterday, Wabtec Corp. announced it renewed license agreements with Japanese companies NABTESCO and Mitsubishi Electric Corp. (MELCO) for five years.

Sole suppliers of braking equipment in the Japanese railroad market, NABTESCO and MELCO are allowed to use Wabtec-licensed technology per the agreements. The Japanese firms also supply rail braking equipment in China, Taiwan, the Republic of Korea and most Asian markets.

Wabtec has leveraged its NABTESCO and MELCO relationships — which span more than 80 years — to manufacture braking components for Taiwanese and Chinese rail industry customers, according to a prepared statement. Wabtec currently is exploring other market opportunities with the Japanese partners.

“We are aiming to contribute to the world railway industry by not only supplying existing products, but by developing and marketing new technologies and products in new markets,” said Koshiro Yoshida, NABTESCO managing director and president of the firm’s railroad products company.