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Wabtec Corp. recently acquired Ricon Corp. for $73.5 million in cash, including debt repayment. A producer of wheelchair lifts and ramps for commuter-rail cars, buses and other passenger transit vehicles, Ricon will extend the market reach of Wabtec’s door operating system division.

“Ricon has a global reach, with sales in North America, Europe and the U.K., and significant aftermarket growth opportunities,” said Wabtec President and Chief Executive Officer Albert Neupaver in a prepared statement. “In addition, we expect Ricon to continue to benefit from increasing demand for public transit around the world, strong government spending and existing regulations that require accessibility products.”

Wabtec supplies components for locomotives, freight cars and passenger transit vehicles, builds switcher and commuter locomotives, and provides aftermarket services.