Westinghouse, MotivePower revise merger agreement

By Staff -- Purchasing, 11/4/1999

Westinghouse Air Brake Co. and MotivePower Industries, Inc. have signed a revised merger agreement. According to the new agreement, shareholders of MotivePower Industries will receive .66 shares of Westinghouse Air Brake stock in exchange for each share of MotivePower Industries.

The merger, which will create a supplier of products and services for the railroad industry, is expected to be completed by the end of the year. The combined company will be based in the Pittsburgh area.

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