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Wabtec Corp. recently reached an agreement to acquire Becorit GmbH for $50 million in cash. The transaction is expected to close in early December.

Based in Germany, Becorit supplies various brake shoes, pads and friction linings for passenger and freight cars, and locomotives. The company’s annual sales total about $30 million.

“Becorit complements our existing presence in the European railway industry and provides a platform for growth in other industrial markets,” said Wabtec President and Chief Executive Officer Albert Neupaver in a prepared statement.