Wabtec Bags €60M Order For Platform Gates To Support Marseille Metro Automation Project

Westinghouse Air Brake Technologies Corp (NYSE:WAB) has received an order to supply platform gates to Marseille's metro automation project.
The deal is valued at €60 million and is part of France's second city plans to upgrade and automate its local transport network.
Wabtec's Faiveley Transport and Eiffage Genie Civil Méditerranée and Eiffage Energie Systems Mediterranee will supply Metropole Aix Marseille Provence with all the platform gates for lines 1 and 2 of Marseille NEOMMA that are being automated.
The gates are designed to be environmentally sustainable and reduce energy consumption in standby mode (7 times less energy used during active mode).
Work on-site will begin in 2023, and the project will be completed by the end of 2026.
Price Action: WAB shares closed higher by 0.43% at $88.98 on Monday.