Wabtec Pockets Locomotive, Services Deal From Egyptian National Railways - Westinghouse Air Brake (NYSE:WAB)

Westinghouse Air Brake Technologies Corp WAB or Wabtec signed contracts with Egyptian National Railways (ENR) to supply 100 ES30ACi Evolution Series Locomotives and a multi-year service agreement to maintain the fleet. The financial terms were not disclosed.
The locomotive supply contract is funded by the European Bank for Reconstruction and Development.
The agreement supports ENR's modernization effort by providing the latest, fuel-efficient locomotives needed for Egypt's rail infrastructure.
The ES30ACi Locomotive is a double-cab locomotive equipped with a 12-cylinder, 3,300 horsepower Evolution Series engine, AC traction technology, individual axle control, and dynamic brakes. The company will deliver the locomotives to ENR in 2023.
Price Action: WAB shares are trading higher by 2.92% at $96.96 on the last check Monday.