Wabtec Corporation (NYSE: WAB) has acquired 100% of shares in Melett ltd, a leader in the design, manufacture and supply of high-quality turbochargers and replacement parts to the turbocharger aftermarket.
Melett of Barnsley, England has operations in the UK, Europe, North America and China and is recognised globally as a high-quality supply partner by turbocharger repairers and remanufacturers in more than 100 countries around the world.
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Melett complements both our overall turbocharger strategy and our product portfolio through its globally recognized brand and comprehensive aftermarket solutions.
“It provides our existing turbocharger business with an extensive and low-cost manufacturing and distribution base in Europe and China. This acquisition represents an excellent strategic fit that expands our aftermarket presence and provides direct access to key international markets.”
Ian Warhurst , owner of Melett will continue as managing director of the company and said: “I am very proud of what we have created at Melett over the past 15 years. The company has been built on strong engineering principles, and a key to Melett’s success has been working closely with our customers and suppliers to understand what the market requires, both now and in the future.
“Becoming a part of the Wabtec Corporation will allow us to take Melett to the next level, and fully exploit opportunities within both new and existing market sectors. Wabtec’s ethos mirrors that of Melett and it will be exciting to explore potential development prospects with our sister companies within the Wabtec turbocharger business unit.”