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Rail News: M&A
2/4/2008
Rail News: M&A
New York Air Brake acquires Klasing Hand Brake's business
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New York Air Brake Corp. (NYAB) recently acquired the assets and business of Klasing Hand Brake Co.
Based in Joliet, Ill., Klasing has produced hand brakes for the rail industry since 1913. The company supplies lever and wheel hand brakes, as well as related parts and accessories.
The acquisition enables NYAB to add freight-car hand brakes to its product line — which includes air brake control systems and components, electronically controlled braking systems, foundation brakes, training simulators and driver information systems — to provide customers a "more complete brake package," said NYAB President J. Paul Morgan in a prepared statement.
Based in Joliet, Ill., Klasing has produced hand brakes for the rail industry since 1913. The company supplies lever and wheel hand brakes, as well as related parts and accessories.
The acquisition enables NYAB to add freight-car hand brakes to its product line — which includes air brake control systems and components, electronically controlled braking systems, foundation brakes, training simulators and driver information systems — to provide customers a "more complete brake package," said NYAB President J. Paul Morgan in a prepared statement.
