⏳ Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Wabtec and ARTC partner on rail interoperability in Australia

EditorNatashya Angelica
Published 17/04/2024, 21:16
WAB
-

PITTSBURGH - Wabtec Corporation (NYSE: WAB), a global provider of equipment, systems, and services for the rail industry, has entered into an agreement with the Australian Rail Track Corporation (ARTC) to develop a standard for interoperability between different rail management systems in Australia.

The collaboration aims to integrate ARTC's Advanced Train Management System (ATMS) with the European Rail Traffic Management System (ETCS) Level 2.

Wayne Johnson, CEO and Managing Director of ARTC, emphasized the significance of the project for enhancing safety and competitiveness in Australia's rail sector. Wabtec's experience in deploying train control solutions across the extensive U.S. freight network was a key factor in their selection for the project.

The initiative is expected to be a cornerstone for transforming Australia's freight rail network, according to Nalin Jain, President of Digital Intelligence at Wabtec. The interoperability between ATMS and ETCS is intended to improve productivity, sustainability, and safety across ARTC's network, which spans approximately 8,500km.

ATMS is a next-generation train management system that utilizes GPS and public cellular networks to connect track infrastructure, locomotives, and network control, providing autonomous train-based location determination and increased driver situational awareness.

The interoperability also allows for potential integration with locomotive digital solutions such as energy management and scheduling optimization technologies currently in use by Australian railroads.

Wendy McMillan, Wabtec's Senior Regional Vice President for South East Asia, Australia, and New Zealand, highlighted ARTC's innovative approach to advancing the freight rail industry in Australia. Wabtec's expertise and digital technology portfolio will support ARTC's exploration of ATMS capabilities, with the aim of benefiting the country's supply chain.

This agreement represents a commitment from both Wabtec and ARTC to address the challenges of rail system integration and marks a step towards modernizing Australia's rail infrastructure. The information for this article is based on a press release statement.

InvestingPro Insights

Wabtec Corporation (NYSE: WAB), while taking significant strides in the rail industry with its latest agreement in Australia, also presents an interesting profile for investors. The company's stock has been noted for its low price volatility, suggesting a stable investment option.

This characteristic is particularly relevant for investors who prefer steadiness in their portfolio, especially when considering the company's long history of maintaining dividend payments for 30 consecutive years, showcasing its commitment to returning value to shareholders.

From a financial perspective, Wabtec's market capitalization stands at a robust $25.56 billion, reflecting its substantial presence in the market. The company's P/E ratio, adjusted for the last twelve months as of Q4 2023, is 30.71, indicating the company's earnings are priced at a premium compared to the market average.

This premium pricing can be attributed to Wabtec's strong performance, with a notable 38.16% price uptick over the last six months and a 15.78% return over the last three months, signaling investor confidence in the company's growth trajectory.

InvestingPro Tips highlight that analysts predict profitability for Wabtec this year, which is supported by a solid revenue growth of 15.73% in the last twelve months as of Q4 2023. For investors seeking further insights and tips on Wabtec, InvestingPro offers additional analysis and data points. There are currently 7 more InvestingPro Tips available for Wabtec, which can be accessed by visiting: https://www.investing.com/pro/WAB. To gain access to these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.