PITTSBURGH — Wabtec Corp. announced that the Union Pacific Railroad Co. has signed one of the largest locomotive modernization deals in history with an estimated value of more than $1 billion.
The deal will see Pittsburgh-based train and equipment manufacturer Wabtec (NYSE: WAB) modernize 600 locomotives owned by Union Pacific (NYSE: UNP), a process that will result in the recycling of about 70,000 tons of steel and a reduction of 350 tons of carbon annually per modernized locomotive following fuel efficiency upgrades. It’s an effort that also puts Union Pacific on track to reach its net zero greenhouse gas emissions target by 2050.
Click here to read more from the Pittsburgh Business Times.
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